Federal government sells its multibillion-dollar stake in General Motors

The Harper government has unloaded its remaining multibillion-dollar stake in General Motors.

The federal Finance Department said the government sold nearly 73.4 million shares Monday in an unregistered block trade to Goldman, Sachs & Co.

The government’s stake in the automaker was worth more than $3.3 billion Monday, based on a US$36.66 price at the close and an exchange rate of $1.2473. But it’s unclear how much the sale will benefit Ottawa’s bottom line.

Original Article
Source: nationalnewswatch.com/
Author:  Will LeRoy