UPDATE 1-U.S. Treasury likely to exit GMAC via share sale

Newswire

(Adds background, quotes) WASHINGTON, Feb 25 (Reuters) - The U.S. Treasury Department will likely exit its investment in GMAC Financial Services this year through a gradual sale of shares following a public offering, two senior Treasury officials said on Thursday. The auto finance giant is now capitalized at levels well above historical industry averages, said Ron Bloom, senior advisor to Treasury Secretary Timothy Geithner, and Jim Millstein, chief restructuring officer at the Treasury ...

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