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GM Sells Allison Transmission for $5.6 B |
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Author: Elena Todorova
123jump.com
Last Update: 11:15 AM EDT June 28 2007
General Motors announced that it agreed to sell its Allison Transmission business for $5.6 billion to the private equity firm Carlyle Group and Onex Corp. The sale includes seven manufacturing plants in Indianapolis and its global distribution network and sales offices. The deal, which is subject to union and regulatory approval, is expected to complete in Q3. General Motors shares rose 2%. |
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