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The federal government sells its stake in the automaker GM

The federal government sells its stake in the automaker GM picture #1

GM CAMI and Unifor conclude an agreement in principle has the GM CAMI

The federal government sells its stake in the automaker GM picture #2

Ottawa and Toronto have sold 30 million shares of General Motors

The federal government claims to have sold its shares in General Motors, which would be valued at nearly U.S. $ 1 billion.

According to Finance Minister Jim Flaherty, the shares were sold at the close of markets on Tuesday, at the current price, less a small discount.

Ottawa and the Ontario government had purchased shares of the automaker in 2009, after a rescue plan intended business.

It was not immediately possible to know the value of the amount determined by the federal government as a result of the sale of shares.

This investment was managed on behalf of the Corporation by Ottawa Development Investment Canada.

The share price of GM (NYSE: GM) has ended the day Tuesday up 52 cents, to U.S. $ 37, on the floor of the New York Stock Exchange.

(The Canadian Press)

The federal government sells its stake in the automaker GM picture #3

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