Ally Completes $2.6 Billion Sale of Overseas Units to GM

General Motors Co.'s finance arm has finalized its $2.6 billion acquisition of Ally Financial Inc.'s auto lending operations in Europe and Latin America.

The companies announced the deal last November.

GM Financial Inc. has acquired Ally units in Austria, Belgium, Germany, the Netherlands, Sweden, Switzerland, the U.K., Chile, Colombia, Chile and Mexico.

The companies expect to complete $1.6 billion in additional deals involving businesses in Brazil, China, France and Italy later this year. GM has said that after the acquisitions, its finance arm will operate in market's that account for 80% of the carmaker's global sales.