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Ally Financial Sells Stake In Chinese Joint Venture To GM

Jan 6, 2015 | Reprints | Unlock Link | Print

Ally Financial Inc. said on Monday that it completed the sale of its stake in a joint venture with a Chinese auto lender to General Motors Co. for $1 billion.

Ally, the largest U.S. auto lender and former in-house financing arm of GM, expects the sale of its 40 percent interest in SAIC-GMAC Automotive Finance Company Limited to boost first-quarter profits by around $400 million after taxes.

Banking & Lending

Ally Financial Sells Stake In Chinese Joint Venture To GM

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Ally Financial Sells Stake In Chinese Joint Venture To GM