Car News

GM Sells 1 Percent Stake to Saudi Prince

RELATED READING
RESEARCH BY MAKE
Toyota cars, trucks and SUVs Ford cars, trucks and SUVs Honda cars, trucks and SUVs Chevrolet cars, trucks and SUVs Jeep cars, trucks and SUVs Nissan cars, trucks and SUVs Lexus cars, trucks and SUVs Volkswagen cars, trucks and SUVs BMW cars, trucks and SUVs
Acura cars, trucks and SUVs Alfa Romeo cars, trucks and SUVs AMC cars, trucks and SUVs Aston Martin cars, trucks and SUVs Audi cars, trucks and SUVs Bentley cars, trucks and SUVs BMW cars, trucks and SUVs Bugatti cars, trucks and SUVs Buick cars, trucks and SUVs Cadillac cars, trucks and SUVs Chevrolet cars, trucks and SUVs Chrysler cars, trucks and SUVs Daewoo cars, trucks and SUVs Datsun cars, trucks and SUVs DeLorean cars, trucks and SUVs Dodge cars, trucks and SUVs Eagle cars, trucks and SUVs Ferrari cars, trucks and SUVs FIAT cars, trucks and SUVs Fisker cars, trucks and SUVs Ford cars, trucks and SUVs Freightliner cars, trucks and SUVs Genesis cars, trucks and SUVs Geo cars, trucks and SUVs GMC cars, trucks and SUVs Honda cars, trucks and SUVs HUMMER cars, trucks and SUVs Hyundai cars, trucks and SUVs INFINITI cars, trucks and SUVs Isuzu cars, trucks and SUVs Jaguar cars, trucks and SUVs Jeep cars, trucks and SUVs Kia cars, trucks and SUVs Lamborghini cars, trucks and SUVs Land Rover cars, trucks and SUVs Lexus cars, trucks and SUVs Lincoln cars, trucks and SUVs Lotus cars, trucks and SUVs Maserati cars, trucks and SUVs Maybach cars, trucks and SUVs Mazda cars, trucks and SUVs McLaren cars, trucks and SUVs Mercedes-Benz cars, trucks and SUVs Mercury cars, trucks and SUVs MINI cars, trucks and SUVs Mitsubishi cars, trucks and SUVs Nissan cars, trucks and SUVs Oldsmobile cars, trucks and SUVs Plymouth cars, trucks and SUVs Pontiac cars, trucks and SUVs Porsche cars, trucks and SUVs RAM cars, trucks and SUVs Rolls-Royce cars, trucks and SUVs Saab cars, trucks and SUVs Saturn cars, trucks and SUVs Scion cars, trucks and SUVs smart cars, trucks and SUVs SRT cars, trucks and SUVs Subaru cars, trucks and SUVs Suzuki cars, trucks and SUVs Tesla cars, trucks and SUVs Toyota cars, trucks and SUVs Volkswagen cars, trucks and SUVs Volvo cars, trucks and SUVs Yugo cars, trucks and SUVs
RESEARCH BY STYLE
AWD/4WD
Commercial
Convertible
Coupe
Hatchback
Hybrid/Electric
Luxury
Sedan
SUV/Crossover
Truck
Van/Minivan
Wagon

author photo by Autotrader December 2010

When GM returned to trading last week, a Saudi billionaire named Prince Alwaleed Bin Talal, jumped on it. The prince and his financial investment enterprise, Kingdom Holding Co. (KHC), bought $500 million shares of General Motors Co. That amounts to a 1 percent stake. In addition, GM’s Chinese partner, Shanghai Auto, also invested $500 million for a 1 percent share.

This is one billionaire prince worth watching. The prince has been named twice by Forbes magazine as one of the smartest and most creative investors in the world. The Kingdom Holding Company of Riyadh has a portfolio that consists of investments in a rainbow of sectors consisting of luxury hotels, real estate, media, broadcasting, entertainment, communications, upscale fashion retailing, supermarkets, health and education. His Royal Highness’ investments have included international giants such as Citicorp, New Corp., Four Seasons Hotels and Resorts, George V Hotel in Paris, Apple Inc., Time Warner, Walt Disney, PepsiCo, Procter & Gamble, Motorola, Hewlett Packard and Eastman Kodak.

Why GM? KHC said they bought in because of “the global strength of General Motors brand, the relatively attractive offering price, and the company’s growth prospects in Brazil and China.’”

But, this isn’t the first time that General Motors has received funds from a private investor. In 2006, US billionaire Kirk Kerkorian was GM’s largest individual investor with a 9.9 percent stake. However, he subsequently bailed out. In late November 2006, he sold his last 28 million shares.

Currently, the US government is GM’s largest shareholder following the automakers’ 2009 bankruptcy and bailout. They own a hefty 33 percent.

So far, GM is on solid ground. On November 17th, the company’s IPO brought in $15.8 billion.

This image is a stock photo and is not an exact representation of any vehicle offered for sale. Advertised vehicles of this model may have styling, trim levels, colors and optional equipment that differ from the stock photo.
GM Sells 1 Percent Stake to Saudi Prince - Autotrader