Saturday, Jul 30, 2016
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Automotive

GM buys back stock U.S. bought for $2.1B

General Motors Co. has bought back the government's holdings of GM preferred stock issued in the automaker's bailout for $2.1 billion, the U.S. Treasury Department said Wednesday.

Completion of the repurchase brings GM's total repayments to U.S. taxpayers to $23.1 billion, including $13.5 billion received from the automaker's initial public offering last month, the Treasury said. It also counts $6.7 billion in GM debt repayments and $800 million from interest and dividends.

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