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GMAC Becomes a Corporation, Allowing Share Sales

http://www.cnbc.com/id/31702403

In a regulatory filing, the Detroit-based company said holders of common membership interests in the former GMAC LLC on Tuesday received an equal number of common shares in GMAC.


It was not immediately clear when or if GMAC might sell shares to the public. A call to the company was not immediately returned.

GMAC has received $12.5 billion of government aid since December, when it became a bank holding company, to combat mounting mortgage losses as well as falling vehicle sales.