Industry News

GM nets $9 billion from GMAC deal

Sells majority stake in commercial real estate loan division
Published on Mar 24, 2006

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by CareyBot

General Motors completed the sale of a majority stake in the commercial mortgage division of its GMAC finance unit Thursday, receiving $9 billion in cash from the transaction, the company said.

The purchase is being made by a group including private equity firms Kohlberg Kravis Roberts & Co. and Five Mile Capital Partners, as well the Goldman Sachs Capital Partner unit of