Ontario Sells Remaining Stake in GM for About $875 Million
05 Febbraio 2015 - 2:24AM
Dow Jones News
By Carolyn King
TORONTO--The province of Ontario said late Wednesday that it
sold its remaining stake in General Motors Co. for about 1.1
billion Canadian dollars ($875 million).
The province had acquired the stake in 2009 when it and the
Canadian federal government offered financial support to GM as well
as Chrysler during the financial crisis. Both car makers have
significant operations in the province, Canada's manufacturing
hub.
Ontario said the proceeds exceeded its C$900 million target and
will be directed toward transit programs.
Write to Carolyn King at carolyn.king@wsj.com
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