U.S. Department of the Treasury

 

WASHINGTON – The U.S. Department of the Treasury today announced the completion of the first pre-defined written trading plan for Ally Financial Inc. (“Ally”) common stock.  Treasury sold 8,890,000 shares and recovered approximately $218.7 million for taxpayers.  With the conclusion of the first trading plan, Treasury now holds 66.2 million shares of common stock, or approximately 13.8 percent, of Ally.  Treasury also announced that it would continue to sell Ally common stock through a second pre-defined written trading plan. 

 

“Treasury’s sale of additional common stock continues our effort to wind down the investment in Ally and the Troubled Asset Relief Program (TARP),” said Chief Investment Officer Charmian Uy.  “The second trading plan will allow us to continue exiting the investment in a manner that balances speed of exit with maximizing the taxpayer’s return.”

 

Treasury’s second trading plan of Ally common stock (which begins today) is part of its continuing effort to wind down TARP.  Taxpayers have now recovered approximately $18.0 billion on the Ally investment, roughly $873 million more than the original $17.2 billion investment. To date, taxpayers have recovered a total of $440.0 billion on TARP investments including the sale of Treasury’s AIG shares, compared to $425.2 billion disbursed.  For more details on Treasury’s lifetime cost estimates for TARP programs, please visit Treasury’s Monthly 105(a) Report to Congress on TARP at this link.

 

There will be opportunities for smaller broker dealers, including women and minority-owned broker dealers, to participate in the sale of Treasury's remaining Ally common shares pursuant to the plan.

 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of Ally common stock.

 

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