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Solutions - USA - GM Has "Short List" of GMAC Investors
NY,USA -Bloomberg -Oct. 21, 2005: -- General Motors Corp., trying to regain an investment-grade rating for its auto-loan debt, has a "short list" of possible buyers for a controlling stake in its auto finance unit, Chief Executive Rick Wagoner said... GM is in discussions with several companies that make the most sense for a "strategic partnership" by buying a stake in the General Motors Acceptance Corp. finance unit, Wagoner said in an interview today at the automaker's Detroit headquarters. He wouldn't identify potential buyers. Analysts say the sale may raise as much as $15 billion for GM, the world's largest automaker... Bank of America Corp., HSBC Holdings PLC and General Electric Co. could be on GM's short list, said Pete Hastings, vice president of fixed corporate income at Morgan Keegan Inc. in Memphis, Tennessee...
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