GM may sell stake in GMAC mortage unit-WSJ

Newswire

NEW YORK, March 23 (Reuters) - General Motors Corp. is in talks with private equity and other financial firms over selling a stake in its GMAC Commercial Mortgage subsidiary, The Wall Street Journal reported on Wednesday. The deal could raise as much as $1 billion for the carmaker, the Journal reported, citing people familiar with the matter. Such a move would be a small part of GM's attempts to recover from a poor performance by its North American car operations and avert the threat of ...

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