The US Department of the Treasury has announced that it is converting US$5.5bn of preferred stock in Ally Financial into common stock. The move is designed to accelerate the Treasury's ability to exit its investment in the company and will also take the former financing arm of General Motors (GM) Subscribe to Automotive World to … Continued
The US Department of the Treasury has announced that it is converting US$5.5bn of preferred stock in Ally Financial into common stock. The move is designed to accelerate the Treasury's ability to exit its investment in the company and will also take the former financing arm of General Motors (GM)
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https://www.automotiveworld.com/articles/85283-us-treasury-cuts-preferred-stock-stake-in-ally/
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