Ally Financial Completes Sale of Operations in Brazil
Oct 1, 2013
DETROIT, Oct. 1, 2013 -- Ally Financial Inc. (Ally) today announced that it has completed the sale of its operation in Brazil to General Motors Financial Company, Inc. (GM Financial), a wholly-owned subsidiary of General Motors Co. Ally received approximately $611 million in proceeds related to the transaction.
"The sales of Ally's international operations are nearly complete, and the company has received approximately $8.3 billion in proceeds thus far from these transactions," said Ally Chief Executive Officer Michael A. Carpenter. "As a result of the substantial progress on our strategic plans, Ally is in a much stronger position today to further strengthen its domestic franchises and advance its efforts to repay the U.S. taxpayer."
Ally has received approximately 90 percent of the total proceeds expected from the sales of non-U.S. businesses.
About Ally Financial Inc.
Ally Financial Inc. is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Commercial Finance unit provides financing to middle-market companies across a broad range of industries.
With approximately $150.6 billion in assets as of June 30, 2013, Ally operates as a bank holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @Ally.