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G.M. sold control of GMAC in 2006 but still owns a large minority stake.
GMAC's fortunes have spiraled downward since G.M. sold control of the business to Cerberus.
G.M. sold control of its former financing arm, GMAC Financial Services, in 2006.
Turkey sold control of its giant state-owned steel maker, Erdemir, in a closely watched privatization that will keep the company in Turkish hands.
With his brother Gordon, he bought the Cleveland Cavaliers basketball team in 1983 and sold control of it in 2005 at an enormous profit.
Earlier this year, AT&T also sold control of its yellow pages business to Cerberus Capital Management for about $950 million.
Similar(42)
But selling control of Cyberteks appears to be out of the question.
Asked if selling control of Warner Music might now mean selling at the bottom, he hedged his answer.
[C10.] Korea Set to Sell Control of Insurer An international consortium won approval to buy control of Korea Life Insurance from the Korean government, which took it over in 1999.
[C3.] Deal for Global Crossing Is Reached Global Crossing and its creditors agreed to sell control of the company for $250 million to Hutchison Whampoa of Hong Kong and Singapore Technologies Telemedia.
There was no sigh of relief among the major credit rating firms after General Motors unveiled its agreement to sell control of its financing arm on Monday.
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