The additional funding gives Treasury more control over GMAC. It has already told the General Motors Corp. financing arm to extend financing services to bankrupt Chrysler LLC.
Analysts suggest the infusion, along with the merger of Chrysler's financial arm, would make GMAC a lending powerhouse that would give GM and Chrysler a huge advantage over their competitors - including Ford Motor Co., which hasn't taken any government aid.
Also yesterday, three investors filed bids to take over or invest in General Motors Corp.'s ailing Adam Opel unit, a spokesman for GM Europe said.
Italian car maker Fiat SpA, Canadian auto parts maker Magna International, and New York-based buyout firm Ripplewood Holdings LLC submitted plans to acquire or invest in Opel, the spokesman said.
Fiat confirmed it filed a bid to acquire Opel, which is based in Germany. Fiat gave no details. Calls to Ripplewood and Magna were not returned.
Fiat wants to wrap GM Europe, including Opel, into a global car-making powerhouse along with Chrysler LLC.
A German Economy Ministry spokesman said GM will have the final say about Opel's fate, while Berlin's role is to decide whether to offer state support to the chosen investor.
"We're looking at a matter of several weeks, if not months, here to get through the whole process," a GM Europe spokesman said.
