360° Coverage : Federal Government Reduces Stake in General Motors to 7.3%

Federal Government Reduces Stake in General Motors to 7.3%

, US government sells off more GM stock

Sep 19 2013, 1:30pm CDT | by

Federal Government Reduces Stake in General Motors to 7.3%

The United States treasury has recently sold another block of stock shares it owns in General Motors. This is part of the stock that the federal government purchased when it bailed GM out during the financial crisis a few years ago. With the latest selloff of GM stock, the government has reduced its stake in the company to 7.3%.

The U.S. Treasury sold more than 110 million shares between may six and September 13. The selloff of stock raised over $3.82 billion. After the selloff, the federal government owns 101 million shares of stock.

The US government took a 60.8% stake in GM for $49.5 billion when the government bailed out the company in 2009. The government has recovered about $35.4 billion the investment so far.

 
 
 

<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Shane is a self described car aficionado. He loves muscle cars, but also knows how green cars work. He has years of experience in testing cars and writes about cars with deeply felt emotions.

 

blog comments powered by Disqus

Latest stories

Hyundai is First to Offer Android Auto
Hyundai is First to Offer Android Auto
First car company to launch Android Auto on production vehicles, starting with the 2015 Sonata with Navigation. A software update available for current owners of 2015 Sonatas with Navigation.
 
 
2018 Lamborghini Urus SUV Announced
2018 Lamborghini Urus SUV Announced
The incredible Lamborghini Urus SUV is finally going to be manufactured. Lamborghini has officially announced to build the Urus for a 2018 market release.
 
 
Google Self-Driving Cars to Hit Public Roads this Summer
Google Self-Driving Cars to Hit Public Roads this Summer
Google announced today that Google Car prototype vehicles will leave the test track and hit the familiar roads of Mountain View.
 
 
First Self Driving Truck Unveiled by Daimler
First Self Driving Truck Unveiled by Daimler
Daimler is first to get a license for road use in the State of Nevada for an autonomous truck. Now truckers can sagely text while driving.