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BRIEF-US Treasury to sell 410,000 shares of Ally Financial stock in private offering
January 16, 2014 / 3:38 PM / 4 years ago

BRIEF-US Treasury to sell 410,000 shares of Ally Financial stock in private offering

Jan 16 (Reuters) - U.S. Department of the Treasury :

* Expects to sell 410,000 shares of Ally Financial stock in private offering at $7,375 per share

* US Treasury says expects taxpayers to recover proceeds of about $3 billion from stock offering

* At conclusion of sale, taxpayers will hold roughly 37 percent of common stock in Ally

* Will continue to work with Ally to further wind down this investment

* After sale, taxpayers will have recovered $15.3 billion of $17.2 billion investment given to Ally

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