Financial News and Economical Crisis

American automakers General Motors Corp. may hold IPO next year, according to data provided to the court for bankruptcy on Wednesday, writes the newspaper The Wall Street Journal.

Already this month, GM, declared bankruptcy on June 1, may come back to life, with the bulk of the company is likely to be owned by the Government of the United States.

United States will become the owner of about 60% of the shares of automakers, the remainder will be owned by the Government of Canada (around 12%) and the Stewardship Fund unions GM.

The U.S. government plans to fully withdraw from the assets of GM, no later than 2018, which is also consistent with the plans of the Canadian Government.

U.S. government did not disclose how it intends to reduce its stake in GM. A key adviser to the U.S. administration for the automotive industry, Ron Bloom in early June stated that the authorities' plan to withdraw from the company's shares as quickly as possible.

source familiar with the situation said that the United States have agreed to coordinate the sale of shares of GM Canada, which has already designed a plan of sale of shares of automakers.

Canada offers to sell at least 5% stake in GM to reach an annual basis and, thus, complete removal of capital investment is not more than eight years.

Exit from GM bankruptcy depends on the decision of the Federal Court, which must approve the sale of shares avtoproizoditelya the Ministry of Finance before July 10. Gerri Wilson, a representative of the American Ministry of Finance, told the New York court on Wednesday that the government will stop funding GM, if the sale is not approved by that date.

According to Wilson, GM will be able to resume its operations only in late August. Meanwhile, Chief Executive Officer Frederick Henderson and his advisers are expected to spend this week meeting, which will be made more definite decision on when GM would complete the bankruptcy process.