In its August report to Congress, the U.S. Treasury Department said it sold $811 million worth of General Motors common stock last month, reports Detroit Free Press.
According to the Tuesday report, the government has recovered about $35.4 billion of the $49.5 billion bailout it gave the Detroit automaker. The government still has to sell $14.1 billion to recover its money.
The Treasury will reveal the price per share of stock sold in July and August at a later date.
“GM stock sold in a range of $33.50 to $37.18 in August. At the midpoint of $35.34, the government would have sold roughly 23 million shares. In July, the government sold $877 million worth of stock. At the midpoint of $35.56, it would have sold roughly 25 million shares,” according to the newspaper.
Source: Detroit Free Press
