1340 AM, Saturday, September 6th, 2008
Allison Transmission Sold To Two Companies
Last updated on Friday, June 29, 2007
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(INDIANAPOLIS) - General Motors is confirming that it has reached an agreement to sell Allison Transmission in Indianapolis to the Carlyle Group and Onex, a private equity consortium, for about 5.6 billion dollars.
The deal covers all of Allison Transmission's seven manufacturing facilities, its worldwide distribution network and sales offices.
Allison manufactures automatic transmissions for medium and heavy duty commercial vehicles.
Sources tell "Inside Indiana Business" that the deal is expected to become final by mid-August.
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