Treasury Department Recieves More Money From GM Stock Sale

By: Associated Press
By: Associated Press

WASHINGTON -- The Treasury Department says it has received another $1.8 billion in net proceeds from the sale of additional stock in General Motors.
Treasury said the revenue received Thursday brought the total amount the government has earned from an initial public offering of General Motors stock to $13.5 billion.
Treasury had said last week it had expected to earn another $1.8 billion if the bankers who handled the IPO exercised their full options to purchase an additional 53.8 million shares of GM common stock.
The government put $49.5 billion into GM as part of its bailout of the giant automaker.


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