Image: US government selling rest of General Motors shares

epa03732259 (FILE) A file picture dated 19 November 2008 shows flags fly outside of General Motors World Headquarters in the Renaissance Center in Detroit, Michigan, USA. The US government 04 June 2013 indicated it has entered the final stages of divesting itself of partial ownership in the country’s premier car producer, General Motors. The US Treasury Department said it had initiated the next step in its plan to sell off its remaining 241.7 million shares «in an orderly fashion» with a view to fully exit its GM investment within the next 12 to 15 months. The sale will be subject to market conditions, officials said. The US government owned 61 per cent of GM — 50 billion dollars worth — after the 2009 bailout to keep the company afloat during bankruptcy reorganization. The Canadian and provincial Ontario governments also helped in the bailout, owning 11.7 per cent of GM. Auto union workers took on 17.5 per cent. EPA/JEFF KOWALSKY *** Local Caption *** 50323332