Deals
Treasury Hires Perella to Help With Sale of Ally Stake
This article is for subscribers only.
The U.S. Treasury Department has hired Perella Weinberg Partners LP to assist in the sale of the government’s stake in Ally Financial Inc., according to a contract posted on the agency’s website.
The agreement between Perella and Treasury became effective on Jan. 18 and will last 12 months, during which Perella will be paid $500,000 a month, according to the contract. The deal can be extended for another six months, according to the contract. Treasury is the majority stakeholder in Ally, with 73.8 percent of the common shares.