GM has Short List of Buyers for Finance Unit

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00013685-gm-has-short-list-of-buyers-for-finance-u/

General Motors Corp., trying to regain an investment-grade rating for its auto-loan debt, has a “short list” of possible buyers for a controlling stake in its auto-finance unit, Chief Executive Rick Wagoner said.

GM is in discussions with several companies about forming a “strategic partnership” by buying a stake in the General Motors Acceptance Corp. unit, Wagoner said in an interview today at the automaker’s Detroit headquarters. He wouldn’t identify potential buyers. Analysts have said the sale may raise as much as $15 billion for GM, the world’s largest automaker.

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GM has Short List of Buyers for Finance Unit

Unknown Author

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