Lazard Ltd. has been appointed by the US Treasury Department to give advice on an initial public offering of General Motors Co., according to a source familiar with the issue.
Last July, GM emerged from a government-sponsored bankruptcy after it received a $50 billion government bailout resulting to the US Treasury getting nearly 61% ownership of the company while Canada and the province of Ontario own close to 12%. Several firms were interviewed by the Treasury for the advisory role. Greenhill & Co. and Perella Weinberg Partners were among those considered.
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