Decision looms on GMAC sale; Cerberus may win

Newswire

By Mark McSherry NEW YORK, March 31 (Reuters) - The board of General Motors Corp. is edging toward a decision this weekend on whether to sell a controlling stake in General Motors Acceptance Corp., its financial services business, for about $11 billion, sources familiar with the negotiations said on Friday. A consortium that includes hedge fund Cerberus Capital Management and the private equity unit of Citigroup is viewed as a front runner for the GMAC stake. A deal could be announced ...

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