Thursday, June 28, 2007

GM selling Allison for $5.6 bln; shares rise

(Reuters) - DETROIT, June 28 - General Motors Corp. on Thursday said it reached a deal to sell its Allison Transmission unit for $5.6 billion to private-equity firms Carlyle Group and Onex Corp.



GM said the sale would include almost all of the Allison Transmission unit's assets, including seven manufacturing plants in Indianapolis and the unit's worldwide distribution network.


Read more at Reuters.com Mergers News

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