Pretty much, that number is almost on the mark. The U.S. Treasury will own exactly 60.8 percent of the New GM. The smaller GM will repay its debt to the government as soon as possible with some of the money diverted from the company´s public offering sales due for 2010.

According to "www.eleconomista.es" and its 10/07/2009 article "New GM exits bankruptcy" by Kevin Krolicki and David Bailey:

---Quote---
A new General Motors emerged from bankruptcy protection on Friday -- far more quickly than most industry-watchers had expected -- as a leaner automaker pledging to win back American consumers and pay back taxpayers.

At the same time, the U.S. government has taken on substantial new risks as a 60 percent owner of the new GM with a $50 billion equity investment and $10 billion in debt and perpetual preferred shares.

The U.S. Treasury will own 60.8 percent and 11.7 percent will be owned by the governments of Canada and Ontario. A retiree trust fund affiliated with the United Auto Workers union will hold 17.5 percent.

GM will start to pay back its debt to the U.S. Treasury, which it owes by 2015, as soon as possible, Chief Financial Officer Ray Young told Reuters Television in an interview.

The automaker plans an initial public offering as soon as 2010 and could use some of the proceeds from that stock sale to repay government debt, Young said.
---Quote---

http://media.eleconomista.com.mx/img/imagenes/gm_010609.jpg
Is in Spanish... but you can pretty much see how all will get sliced.

http://www.blogcdn.com/es.autoblog.com/media/2009/03/gm_bk_deadline.jpg
"Sorry, but your bad management forced the thing, nothing personal...just business"
Source(s):
http://www.eleconomista.es/telecomunicaciones-tecnologia/noticias/1397195/0...

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