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My apologies if this has been previously posted:

FOR RELEASE: 2007-06-28

GM Agrees to Sell Allison Transmission to The Carlyle Group and Onex



NEW YORK - General Motors Corp. (NYSE: GM) today announced that it has reached a definitive agreement for the company to sell its Allison Transmission (Allison) commercial and military business to The Carlyle Group (Carlyle) and Onex Corporation (Onex) for approximately $5.6 billion.

The sale agreement covers substantially all of Allison Transmission, including seven manufacturing facilities in Indianapolis, Ind. and its worldwide distribution network and sales offices. The production facility in Baltimore, Md. is dedicated to the production of conventional and hybrid 2MODE transmissions used in GM's retail pick-up trucks and SUVs and will remain with GM.


Full news release:

http://media.gm.com/servlet/GatewayServlet?target=http://image.emerald.gm.com/gmnews/viewmonthlyreleasedetail.do?domain=74&docid=37387
 
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