U.S. Treasury sold $489.9 mln of GM stock in February
March 11 (Reuters) - The U.S. Treasury received about $489.9 million from the sale of General Motors Co's 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 them 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.
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.
- Judge rejects strict limits on U.S. nurse who treated Ebola patients |
- Test flight of Virgin Galactic spaceship ends in fatal crash in California
- Suspect in Pennsylvania police ambush denied bail |
- Dow, S&P 500 end at record highs; BoJ move adds fuel to rally |
- Judge issues order enforcing Ebola isolation of defiant Maine nurse