GM Financial closes on purchase of Ally's overseas holdings
Fort Worth-based GM Financial said today it completed its previously announced acquisition of most of Ally Financial's holdings in Europe and Latin America. The purchase of remaining Ally interests in France, Brazil and China are still pending regulatory and other approvals, but are expected to close this year, the company said. The deal for the Ally holdings had a stated value of $4.25 billion when it was disclosed in November 2012 and was expected to double the size of GM Financial, previously known as AmeriCredit. "Completing the purchase of these operating units is an important step in ensuring the availability of competitive financing for GM customers and dealers worldwide," GM Financial CEO Dan Berce said in a prepared release.
-- Jim Fuquay