General Motors has agreed to buy the rest of Ally Financial international auto-finance businesses, including operations in Europe, in a deal with proceeds of $4.2 billion.
The purchase by the GM Financial lending arm covers units in Latin America as well as Ally's 40% stake in an auto-lending joint venture in China, and operations in Germany, the United Kingdom, France, Italy, Belgium, the Netherlands, Sweden, Switzerland and Austria.
Ally, formerly called GMAC prior to GM's sale of a major stake in 2006, had owned UK warranty and GAP insurer Car Care Plan until selling that business this month to Am Trust Financial Services.
An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.
c u jimmy - 23/11/2012 14:40
G M have the exoertise to set up there own FINANCE arm as they did initalaly with GMAC Repeating the same mistake they made purchasing Fiat