Treasury to sell remaining GM stake

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Treasury to sell remaining GM stake
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) -- The U.S. Treasury announced it's planning to dispose its remaining stake in General Motors in the next 12 to 15 months, a move the U.S. automaker has long pined for. GM will purchase 200 million shares at $27.50 in a deal that should close by the end of the year, while the Treasury will sell the other 300 million shares as soon as January, depending on market conditions. GM closed Tuesday at $25.49. Treasury has already recouped more than $28.7 billion of the $49.5 billion it invested in the automaker.