Ally Financial Lining Up for IPO

- February 23, 2011

Ally Finan­cial Inc., the U.S.-owned lender prepar­ing for an ini­tial pub­lic offer­ing, is bol­ster­ing ties to Gen­er­al Motors Co. deal­ers amid signs the automak­er may become a rival in vehi­cle financ­ing. Ally, the largest U.S. new-vehi­cle lender, start­ed as a GM unit and still receives most of its busi­ness through GM and Chrysler deal­ers. With an IPO in the works, Detroit-based Ally wants to assure investors those deal­ers will remain cus­tomers for years to come.