U.S. Treasury confirms $6 bln disbursed for GMAC

Newswire

WASHINGTON, Dec 31 (Reuters) - The U.S. Treasury Department confirmed on Wednesday that it disbursed $6 billion in funds to support automotive finance company GMAC LLC. In a transaction report, the Treasury said on Dec. 29 it purchased $5 billion in preferred stock directly in GMAC, also receiving equity warrants in the transaction. The Treasury also said it disbursed a $1 billion loan to automaker General Motors Corp. to help it purchase equity in support of GMAC's conversion to a bank ...

Premium Content (PAID Subscription Required)

"U.S. Treasury confirms $6 bln disbursed for GMAC" 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) ×