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Treasury says it plans to sell remaining Ally Financial stake
WASHINGTON (MarketWatch) -- The Treasury Department said Thursday it plans to sell its remaining stake in auto lender Ally Financial . Taxpayers currently hold 16% of the former General Motors Acceptance Corporation. In a statement, Charmian Uy, Treasury's chief investment officer, said the government intends to "exit" its remaining stake of 75.1 million shares "prudently...balancing speed with maximizing returns." Treasury sold 95 million shares of Ally stock as part of the company's initial public offering in April.
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