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Treasury Cuts General Motors Stake to 7.3%

Cars are assembled at the General Motors Spring Hill Manufacturing Plant in Spring Hill, Tenn.

Treasury Cuts General Motors Stake to 7.3%

The U.S. Treasury has sold another block of shares in General Motors Co <GM.N>, reducing its stake to 7.3 percent as it moves toward exiting its holdings in the automaker by the end of March.

The Treasury sold more than 110 million shares between May 6 and September 13, raising more than $3.82 billion, according to documents posted online on Tuesday. The Treasury confirmed its stake in the No. 1 U.S. automaker now stands at 101 million shares.

Reporting by REUTERS.