Treasury speeds up sell-down of GM

3/12/2013

WASHINGTON — The U.S. Treasury, which is exiting its ownership stake in General Motors Co., accelerated its sell-down of the automaker in February, saying it received $489.9 million in proceeds from the sale of common shares.

The government disclosed the results Monday in its monthly report to Congress on the status of the Troubled Asset Relief Program. A similar report last month said the Treasury received $156.4 million from selling GM shares in January.