GM Buys Ally Lending Units in Europe, S. America

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

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 later this year that involve businesses in Brazil, China, France and Italy.