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GM Files for Bankruptcy Protection; 17.5% Ownership by VEBA Is Proposed
The Washington Post; subscription may be required
June 1, 2009
Excerpt: Under the proposed restructuring, about 60 percent of the new GM would be owned by the United States, about 12 percent by the governments of Canada and Ontario, 17.5 percent by a union health trust, and 10 percent by the company's current bondholders.
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