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'Ally will explore strategic alternatives for all of its international operations, which includes auto finance, insurance, and banking and deposit operations in Canada, Mexico, Europe, the U.K., and South America,' the bank said in regulatory filings on Monday. (Chris Keane/Reuters/Chris Keane/Reuters)
'Ally will explore strategic alternatives for all of its international operations, which includes auto finance, insurance, and banking and deposit operations in Canada, Mexico, Europe, the U.K., and South America,' the bank said in regulatory filings on Monday. (Chris Keane/Reuters/Chris Keane/Reuters)

GM circles as Ally aims to unload international assets Add to ...

Struggling U.S. lender Ally Financial Inc. is auctioning off its Canadian banking division as part of the sale of more than $30-billion (U.S.) worth of international assets as it seeks to relieve mounting financial pressure.

Among the buyers now circling the assets is General Motors Co., which is said to want the business so that it can have a so-called captive finance arm to provide car loans to customers in Canada and elsewhere. In this country, GM competes with rivals such as Ford Motor Co. that already have their own financial units.

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