The U.S. Treasury said in a monthly report that it has received about $489.9 million from the sale of General Motors shares in February, Reuters reports.
According Treasury’s monthly report to Congress on its Troubled Asset Relief Program (TARP), the Treasury has recovered about $29.8 billion of its investment in GM through repayments, sales of stock, dividends, interest, and other income.
The TARP had invested $50 billion in GM and $17 billion in Ally Financial, the former auto lending arm of GM, to save it from collapse during the 2007-2009 crisis.
The government is expected to sell remaining GM shares late this year or early 2014.
Source: Reuters via CNBC
