$5 billion credit facility clears the way for GM's IPO, sources say

08/12/2010 | Reuters · Detroit Free Press · Detroit News, The

General Motors is expected to file a securities-registration statement Friday for what is likely to be the biggest initial public offering in U.S. history, sources said. The approval of a $5 billion credit facility removed the final obstacle to the IPO, which will make the government, owner of 61% of the automaker, a minority shareholder. GM is expected to announce a second-quarter profit exceeding $1 billion, analysts said.

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Reuters · Detroit Free Press · Detroit News, The

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