General Motors writes its first checks to the U.S. and Canadian governments
posted by Stephen @ 10:37 AM
December 20, 2009
GM has made a payment of $1 billion and $192 million to the United States and Canadian governments, respectfully. GM says this is the first step towards a repayment of $6.7 billion that it plans to have completed by June 2010. The 60% stake that the U.S. government owns in GM will be repaid after the initial public offering of stock is sold, possibly as early as the second half of 2010. For more details, head on over to Autoblog.
(Image source: dealbreaker.com)
Tags: bridge loan repayments, General Motors, GM, initial public offering, IPO
One Response to “General Motors writes its first checks to the U.S. and Canadian governments”
Leave a Reply
You must be logged in to post a comment.
December 20th, 2009 at 4:30 pm
$192 million to Canada? If that’s in Canuck bucks, that’s about 200 American dollars.