GM Likely To Generate $5.4 Billion From Allison Sale

    Jan. 1, 2020
    General Motors Corporation is expecting to gain at least $5.4 billion this quarter from the sale of Allison Transmission to Carlyle Group and Onex.
    General Motors Corporation is expecting to gain at least $5.4 billion this quarter from the sale of Allison Transmission to Carlyle Group and Onex.

    The proceeds from the sale of Allison Transmission will be used to cover costs related to plant closings, employee buyouts and vehicle development.

    The Allison sale, completed for $5.6 billion is likely to increase GM's earnings by a range between $5.1 billion and $5.4 billion.

    Allison, based in Indianapolis, has a workforce of 3,400 people, and designs and manufactures transmissions for trucks, buses and military equipment.

    Source: Datamonitor
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