Ally Financial Inc., the auto lender rescued by the U.S. government during the 2008 financial crisis, dropped in its trading debut after pricing its initial public offering at the low end of an expected range.
The U.S. Treasury Department has had Ally Financial Inc. in a regulatory headlock since its 2008 bailout. As the government sells shares in an initial public offering, Ally will soon breathe again -- and take on more risk.
Ally Financial Inc., the auto lender whose mortgage unit went bankrupt, may sell international car- finance and insurance operations to help repay a $17.2 billion U.S. bailout, Chief Executive Officer Michael Carpenter said.
GMAC Inc. , the U.S.-controlled auto and home lender, is close to naming a chief financial officer and has considered appointing Barbara Yastine , the former CFO for investment banking at Credit Suisse Group AG and Citigroup Inc., according to three people with knowledge of the search.
Ally Financial Inc., the auto lender bailed out by the U.S. government, may start a road show for an initial public offering as soon as this quarter as the U.S. Treasury looks to shed its ownership, according to its chief executive officer.
Ally Financial Inc. , the lender that’s 56 percent owned by the U.S., may stage an initial public offering next year and could be worth as much as $30 billion, according to Chief Executive Officer Michael Carpenter .