US Treasury Sold $489.9 Million of GM Stock in February
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Signs stand in front of the General Motors world headquarters complex in Detroit, Michigan.
The U.S. Treasury received about $489.9 million from the sale of General Motors shares in February, it said in its monthly report to Congress on its Troubled Asset Relief Program.
The TARP had pumped $50 billion in GM and $17 billion in Ally Financial, the former auto lending arm of GM, to save it from collapse during the 2007-2009 crisis.
The Treasury has recovered about $29.8 billion of its investment in GM through repayments, sales of stock, dividends, interest, and other income, it said in the report.
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In December, GM bought 200 million of its own shares from the Treasury. This left the Treasury with about 300 million shares of GM, which it intended to sell within 15 months.
The U.S. Treasury received about $489.9 million from the sale of General Motors shares in February, it said in its monthly report to Congress on its Troubled Asset Relief Program.
