TORONTO--(BUSINESS WIRE)--Canada GEN Investment Corporation, a Canadian federal Crown corporation, announced today it has entered into an agreement to sell 30,000,000 shares of its General Motors Company (GM) common stock to BofA Merrill Lynch and RBC Capital Markets, LLC in an unregistered block trade. The sale will be completed September 16, 2013.
Further details about the share sale will be made available when Canada GEN reports its trade with U.S. and Canadian securities regulators in the next several days.
Canada GEN, a wholly-owned subsidiary of Canada Development Investment Corporation (www.cdev.gc.ca), holds Canada’s equity interest in GM. Following completion of this sale, Canada GEN will hold 110,084,746 shares of GM common stock and 16,101,695 shares of GM Series A Preferred Stock.