Government Sells $489.9M of GM Stock
Washington — The U.S. Department of the Treasury received approximately $489.9 million in total net proceeds from the sale of GM common stock in February, according to its monthly report to Congress.
To date, the Treasury has recovered about $29.8 billion of its investment in GM through repayments, sales of stock, dividends, interest and other income, according to the report.
Under the Automotive Industry Financing Program (AIFP), which was launched in December 2008, the Treasury invested a total of $495 billion to help stabilize and restructure GM.
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