BREAKING NEWS FROM CNBC’S KAYLA TAUSCHE: GM, ALLY DEAL TO BE ANNOUNCED MONDAY
WHEN: TODAY, FRIDAY, NOVEMBER 16TH
WHERE: CNBC'S "SQUAWK ON THE STREET"
Following is the unofficial transcript of breaking news from CNBC's Kayla Tausche. All references must be sourced to CNBC.
TAUSCHE: I'VE LEARNED FROM MY SOURCES THAT GM AND ALLY ARE NEAR A $4 BILLION DEAL AND THAT DEAL IS SET TO BE ANNOUNCED MONDAY. THAT'S GOING TO BE ABOUT $4 BILLION FOR THE OPERATIONS OF ALLY IN EUROPE AND LATIN AMERICA. GM CHIEFS HAVE SAID IN THE PAST THAT HAVING A CAPTIVE FINANCE UNIT IN THOSE REGIONS IS CRITICAL FOR GM'S OPERATIONS THERE AND WE'VE BEEN EXPECTING THIS SINCE ALLY PUT ITS INTERNATIONAL OPERATIONS UP FOR SALE. BUT I AM TOLD FROM SOURCES THAT WILL BE ANNOUNCED MONDAY AND ALLY WILL HAVE REAPED ROUGHLY $9 BILLION IN THE SALE OF THOSE UNITS TO REPAY TREASURY FOR ITS BAILOUT.
ith CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 390 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/mediavillage/networks/cnbc/