On Air Now

Listen

Listen Live Now » 103.7 FM Sioux Falls, SD

Weather

Current Conditions(Sioux Falls,SD 57104)

More Weather »
59° Feels Like: 59°
Wind: ENE 26 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Few Showers/Wind 65°

Tonight

Scattered Thunderstorms 47°

Tomorrow

AM Clouds/PM Sun 68°

U.S. Treasury kicks off third stage of GM exit

The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan August 25, 2009. REUTERS/Jeff Kowals
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan August 25, 2009. REUTERS/Jeff Kowals

DETROIT (Reuters) - The U.S. Treasury launched on Thursday the third phase of its plan to sell its stake in General Motors Co , the U.S. automaker that took a government bailout in 2009.

Treasury officials offered few details of the sale in a statement on Thursday. The U.S. government currently has 101.3 million shares in GM, amounting to a 7.3 percent ownership stake in the No. 1 U.S. automaker.

The U.S. government originally took a 60.8 percent stake in GM as part of its $49.5 billion bailout. In December 2012, Treasury outlined a plan that would allow it to exit GM fully in 12 to 15 months.

(Reporting by Deepa Seetharaman; Editing by Gerald E. McCormick)

Comments