The U.S. Treasury plans to sell its remaining interest in GM

The U.S. Treasury plans to sell its remaining interest in General Motors during the 15 months ahead, which will allow the manufacturer to get rid of the image of a company partially owned by the government.

GM announced Wednesday its intention to spend U.S. $ 5.5 billion to repurchase 200 million shares currently held by the Treasury by the end of this year. The actions of the giant automobile worth U.S. $ 27.25 on Wall Street, up U.S. $ 1.76 Wednesday after-noon.

This almost certainly means that the government will lose billions of dollars on the aid of U.S. $ 49.5 billion which allowed the manufacturer to avoid being sold to pieces during the financial crisis of 2008 and 2009. Redemption shares by GM will bring back a 19 percent participation Tresor, against 26.5 per cent.

For the Treasury recovered in whole amount paid to GM, he would sell each of the 300 million shares that will hold still at an average price of U.S. $ 70 per share.

For GM, the failure to count the U.S. government among its shareholders remove a major obstacle. The CFO of the company, Dan Ammann, told reporters that a market study showed that the participation of the government had the effect of slowing sales of cars and trucks of the company.