GM Share Sale Leaves Room for U.S. to Exit Automaker in 2013
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The U.S. Treasury Department has reduced its stake in General Motors Co. to 7.3 percent as part of a program to sell all of its shares as soon as this year.
The Treasury’s stake is down from 32 percent in December when the government announced it was selling $5.5 billion of its stock back to GM and planning to sell the rest on the market within 15 months. The U.S. said last week in a report it had recovered $35.4 billion of $51 billion invested in GM. With the remaining stake worth about $3.8 billion, the U.S. would probably lose about $11.8 billion.