UPDATE 1-Cerberus, Citigroup among bidders for GMAC-sources

Newswire

(Adds details on GM debt, GMAC debt ratings in paragraphs 11-14) PHILADELPHIA, Jan 28 (Reuters) - Hedge fund Cerberus Capital Management and Citigroup , the largest U.S. bank, have teamed up to bid for a controlling stake in General Motors Corp.'s GMAC financial services unit, sources familiar with the situation said on Saturday. A second team of bidders includes Wachovia Corp. , the No. 4 U.S. bank, and private equity firm Blackstone Group, the sources said. Other private equity firms ...

Premium Content (PAID Subscription Required)

"UPDATE 1-Cerberus, Citigroup among bidders for GMAC-sources" 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.

Already registered? here.

Sponsored Introduction Continue on to (or wait seconds) ×