Thursday, Sep 29, 2016
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Automotive

U.S. sells off $156.4M in GM stock last month

DETROIT — The U.S. government has begun selling its remaining General Motors Co. stock as it moves to end four years of partial ownership of the Detroit automaker.

The Treasury Department said in its January report to Congress that it sold $156.4 million worth of GM common stock last month.

The report, dated Feb. 11, says the government has recovered about $29 billion of its $49.5 billion bailout of GM. That means it’s just over $20 billion in the hole on the bailout.

GM’s stock ranged from $27.61 to $30.68 in January. At the midpoint of that range, $29.15, the government would have sold about 5.4 million shares.

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