UPDATE 1-Bank of New York to pay $110 mln to GM unit

Newswire

(Adds details throughout) NEW YORK, Sept 29 (Reuters) - Bank of New York Co. on Monday said it would pay $110 million to General Motors Corp.'s finance arm to settle claims that the automaker paid too much for the bank's commercial lending unit. The New York-based bank has been in talks with the finance arm, General Motors Acceptance Corp., for several months over the 1999 sale of the unit, BNY Financial Corp., for $1.8 billion in cash. Bank of New York expects a third quarter ...

Premium Content (PAID Subscription Required)

"UPDATE 1-Bank of New York to pay $110 mln to GM unit" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622
 

Current subscribers, please login or CLICK for support information.

Sponsored Introduction Continue on to (or wait seconds) ×