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General Motors Co To Buy Stake From Treasury-Reuters


Wednesday, 19 Dec 2012 09:02am EST 

Reuters reported that General Motors Co said it will buy back 200 million of its shares from the U.S. Treasury, which intends to sell the rest of its GM stake over the next 15 months. Chief Financial Officer Dan Ammann said GM will pay $5.5 billion, or $27.50 a share, for the Treasury stake in a deal expected to close by year-end. That represents a 7.9% premium on December 18, 2012 closing price.