GM to repay $4.7 bln debt ahead of schedule: WSJ

[admin]

GM to repay $4.7 bln debt ahead of schedule: WSJ

http://www.marketwatch.com/news/story/g ... siteid=rss

from MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- General Motors plans to repay $4.7 billion in public funds it owes the U.S. government ahead of its self-imposed June deadline, The Wall Street Journal reported in its online edition Monday. GM Chairman and Chief Executive Edward Whitacre is expected to make an official announcement on Wednesday at a Kansas plant, the newspaper said. The government injected about $50 billion in GM which it hopes to recoup by selling its stake after an initial public offering. As part of the deal, GM has to repay a total of $6.7 billion, of which it has already repaid $2 billion.