With regard to the sale of the government's stake in General Motors (GM) common stock, announced in April 2015: (a) which counter-parties were contacted and asked to submit bids, broken down by (i) name of counter-party, (ii) date that they were contacted by the government or its designate, (iii) date of submission of firm, tradable bids to the government; (b) how was the sales price, as reported publicly, determined and calculated; (c) what observed prices, such as close prices or Volume Weighted Average Prices, in the market, were used to calculate the sales price; (d) were any other fees or commissions charged; (e) what conditions were imposed on the winning counter-party, Goldman Sachs; (f) when was Goldman Sachs made aware of the government's intention to sell GM stock; (g) when was Goldman Sachs made aware of the number of shares available for sale; (h) what conditions were imposed on Goldman Sachs’ ability to hedge its purchase of GM stock; (i) was Goldman Sachs permitted to sell GM stock or other auto sector stocks as a hedge of its trade with the government on (i) Wednesday, April 1, 2015, (ii) Thursday, April 2, 2015, (iii) Monday, April 6, 2015; (j) what limits on internal communications within Goldman Sachs were promised by Goldman Sachs to the government or its designate; and (k) what other measures were taken to minimize the transaction costs and market impact of the government’s sale of GM shares?
In the House of Commons on June 1st, 2015. See this statement in context.