GM To Sell Delphi Automotive for $3.8 Billion

“Shares of General Motors (GM) were up 0.2% after hours, following the company’s announcement that it is selling its stake in Delphi Automotive for $3.8 billion.

GM is selling its Class A Membership Interest, which it acquired in October 2009 in conjunction with Delphi’s creation,  back to the company. GM said it will book a gain of approximately $1.6 billion …”

Full Story – Barron’s