NEW YORK -- General Motors Corp.’s restructuring plan is expected to help the automaker sell a majority stake in its captive finance arm, analysts said, according to a report in the Herald News Daily.

The restructuring announcement came after speculation that GM might file for bankruptcy, a move that would make GMAC a less lucrative purchase. The latest plan calls for the reduction of 30,000 North American manufacturing jobs and closing all or part of a dozen plants in the next three years.

Richard Wagoner, GM’s chief executive, said GMAC deal discussions were moving along quickly and that he was pleased with the interest levels, but that there is no sale guarantee, reported the Herald News Daily.

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