#StockSales
Ally Leaves Government Ownership, US Treasury Exits Auto Industry
With its GMAC Financial leather jacket burning in the closet while a supermodel lip-syncs in the tub, Ally Financial is at last free from government ownership.
PSA Board Holding To Dongfeng, French Government Stock-Sale Plan
With PSA Peugeot Citroen’s supervisory board’s blessing, CEO Philippe Varin is continuing talks with partner Dongfeng regarding the stock sale to both the Chinese automaker and the French government.
U.S. Treasury Sells 110 Million Shares of GM Stock, Reducing Stake to 7.3%
The United States Treasury has reduced its stake in General Motors to 7.3% after selling off another block of the shares it acquired during the bailout of the giant automaker. According to documents released earlier this week cited by Reuters, the Treasury sold at least 110 million shares between May 6 and September 13, raising more than $3.82 billion.
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