GM repays government additional $1.2 billion
WASHINGTON (AP) — The government has received another $2.1 billion in repayments from General Motors Co.
The Treasury Department says it received that amount when GM repurchased preferred stock it had given to the government as part of the bailout agreement.
The transaction follows GM's initial public stock offering last month which brought the government $13.5 billion. The government put $49.5 billion into GM as part of its bailout of the giant automaker.