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Ally International Operations Draw Interest from GM Banks

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Ally Financial Inc's international operations have drawn interest from more than 15 bidders, including banks and General Motors Co, Reuters reported today. The auto lender, which is 74-percent owned by the U.S. Treasury after a series of bailouts, received a second round of bids on Friday as part of a sale process announced in May. Ally, the former lending arm of GM, is selling its operations in Europe, Canada, Latin America and Mexico in an effort to speed up repayment to taxpayers. General Motors, which is also partly owned by the U.S. Treasury, is interested in Ally's European and Latin American auto loan operations, but not its Canadian unit. GM disclosed in August that it was bidding for Ally's international operations.

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