GM sells 78 percent of GMAC Commercial Holding

Newswire

NEW YORK, March 23 (Reuters) - General Motors Corp. on Thursday said an investor group has completed the acquisition of a majority interest in GMAC Commercial Holding Corp. from GM's financing arm, General Motors Acceptance Corp. GMAC sold 78 percent of its equity in GMAC Commercial Holding in exchange for more than $1.5 billion in cash, GM said. The investor group was comprised of affiliates of Kohlberg Kravis Roberts & Co., Five Mile Capital Partners LLC and Goldman Sachs Capital ...

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