U.S. Treasury hires Lazard for GM IPO


NEW YORK, May 21 (Reuters) - The U.S. Treasury Department has hired Lazard Ltd to advise the government on an initial public offering of General Motors Co, a source familiar with the matter said on Friday. GM, the largest U.S. automaker, emerged from a government-sponsored bankruptcy last July. The automaker received a $50 billion government bailout that gave the U.S. Treasury nearly 61 percent ownership of the company. Canada and the province of Ontario own nearly 12 percent. Chief ...

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