General Motors headquarters in Detroit.(Photo: Paul Sancya, AP)
DETROIT (AP) - The government is getting closer to selling all of its General Motors Co. stock.
The Treasury Department said in its August report to Congress that it sold $811 million worth of GM common stock last month.
The report dated Tuesday says the government has recovered about $35.4 billion of the $49.5 billion bailout it gave the Detroit automaker. That means taxpayers are still $14.1 billion in the hole.
The Treasury says the price per share of stock sold in July and August will be revealed at a later date.
GM stock sold in a range of $33.50 to $37.18 in August. At the midpoint of $35.34, the government would have sold roughly 23 million shares. In July, the government sold $877 million worth of stock. At the midpoint of $35.56, it would have sold roughly 25 million shares.