Bank Goldman Sachs purchases shares in General Motors of Canada for $3.3 bln

REUTERS

A total of 73.4 million shares of GM common stock were purchased by U.S. commercial bank Goldman Sachs. The deal is estimated to be worth $3.3 billion.

Until now Canada has been the only country in North America whose government owned stocks in General Motors, which were acquired in 2009 as part of a bailout  for the giant automaker, which was then on the verge of bankruptcy. The U.S. company owns several factories in the Canadian province of Ontario.

The U.S. government sold its shares in General Motors in December 2013.