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General Motors Corp., the world's largest automaker, has sold a stake of its profitable financial arm, General Motors Acceptance Corp., to a group of investors led by Cerberus Capital Management L.P., a private investment firm. Detroit-based General Motors, which has been struggling against Asian competitors and lost $10.6 billion last year, expects to receive $14 billion over the next three years from the sale of GMAC, which provides such services as automovitve financing.
April 06, 2006 at 12:00 AM
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The premier educational and networking event for employee benefits brokers and agents.
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