General Motors has acquired Ally Financial’s international operations. Ally agreed to sell their European and Latin American businesses as well as a share of a joint venture in China to GM’s financial arm for around $4.2 billion. Ally Financial has been looking to raise money to help pay back their government bailouts.
Ally Financial Posts
General Motors has bid on Ally Financial’s international operations. This is about two months after GM said that he wanted to buy Ally Financial’s business. GM made the bid through their subsidiary GM Financial. There are a “number of third parties” that are in the preliminary stages of the bid process. Ally’s assets could attract bids that are between $2 and $4 billion. Ally has operations in Canada, Mexico, Europe and Latin America.