General Motors starts repaying its bailout loans
By Andrew C., 27 Aug, 2010. 0 Comments
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General Motors Co. has started repaying its bailout loans to the US and Canadian governments.
So far, GM has paid the US government $1 billion and the Canadian government $192 million. By June 2010, GM has to have repaid the US government $6.7 billion.
Apparently, the carmaker is confident that it will be able to meet these payments as it has released a brief statement to this effect. Currently, the US government owns 60% of GM however, it is seeking to offload its shares in an upcoming stock offering.
Analysts predict that this stock offering will take place as early as the middle of next year. [via autonews - sub. required]
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