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U.S. Sells Off Remaining Stake in Ally Financial
The U.S.
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The U.S. Dept. of the Treasury is disposing final 54.9 million shares in Detroit's based Ally Financial Inc.
The stake, equal to about 11% of Ally, is expected to sell for about $1.25 billion.
The Treasury Dept. acquired 74% of Ally in 2008 in exchange for funding the company's $17.2 billion bailout through the Troubled Asset Relief Program (TARP). Ally estimates that, after the current sale, the government will have recovered $19.5 billion.
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