Canada sells last of its GM shares

April 7, 2015 1:43 PM

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GEN Investment Corp., created by the Canadian federal government. has agreed to sell its final 73.4 million General Motors to investment bank Goldman Sachs. The sales is expected to be completed April 10.

At GM's Monday closing price of $36.66 that stake is worth nearly $2.7 billion. In February the province of Ontario sold its last GM shares for about $1.1 billion. Both the federal and provincial governments secured their stakes in the automaker in 2009 in exchange for aid that enabled it to restruc...

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