Ally Statement on U.S. Treasury Sale of Ally Common Stock
The following statement is attributable to Ally Chief Executive Officer Michael A. Carpenter
Jan 16, 2014
DETROIT, Jan. 16, 2014 -- The U.S. Treasury has completed a private placement of approximately $3 billion in Ally common stock and, including this transaction, the U.S. taxpayer has received approximately 89 percent of the investment made in Ally. This is a very positive outcome for Ally and for the U.S. taxpayer, and the strong investor interest is a testament to the significant transformation of the company.
In the fourth quarter of 2013, Ally completed a series of strategic actions, including: raising common equity, achieving a non-objection to our CCAR plan, gaining approval for the ResCap Chapter 11 Plan, returning $5.9 billion to the U.S. Treasury, reaching a settlement with the CFPB and the Department of Justice, and being granted Financial Holding Company status. These actions, coupled with the strength of our ongoing business, position Ally to complete its plans to exit TARP and to continue to build upon our thriving franchises.