GMAC Becomes Industry’s Largest Independent lender Automotive financing’s newest kid on the block has a familiar name and deep pockets, and is looking to gobble up everyone else’s candy.
Investment group Cerberus Capital Management LP’s $14 billion purchase of a 51% stake of GMAC LLC from General Motors Corp. was completed Nov. 30 and transformed one of automotive financing’s largest lenders into an independent company that still enjoys all the exclusive benefits of being a captive.
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