The Canadian government is selling all its shares in General Motors.
In a statement, Canada GEN Investment Corporation, a Canadian federal crown corporation, said it would sell 73,389,831 shares of its General Motors Company (GM) common stock to Goldman, Sachs in an unregistered block trade. The sale will be completed on 10 April.
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Further details about the share sale will be made available when Canada GEN reports its trade with U.S. and Canadian securities regulators in the next several days.
“Canada GEN, a wholly-owned subsidiary of Canada Development Investment Corporation, holds Canada’s equity interest in GM. Following completion of this sale, Canada GEN will have sold all of its remaining shares of GM common stock.”
