Tags: Ally Financial | China | Joint Venture | GM

Ally Financial Sells Stake in Chinese Joint Venture to GM

Monday, 05 Jan 2015 11:32 AM

Ally Financial Inc. said on Monday that it completed the sale of its stake in a joint venture with a Chinese auto lender to General Motors Co. for $1 billion.

Ally, the largest U.S. auto lender and former in-house financing arm of GM, expects the sale of its 40 percent interest in SAIC-GMAC Automotive Finance Company Limited to boost first-quarter profits by around $400 million after taxes.

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Ally Financial Inc. said on Monday that it completed the sale of its stake in a joint venture with a Chinese auto lender to General Motors Co. for $1 billion.
Ally Financial, China, Joint Venture, GM
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2015-32-05
Monday, 05 Jan 2015 11:32 AM
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