REUTERS
The Canadian authorities have decided to sell their assets in General Motors on the background of the as yet unapproved national budget for fiscal year 2015-2016, Russian news agency TASS has reported, with reference to TV channel CBC.
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.