Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Today's Top SOA Links


Ally Financial Announces Agreement to Sell Remaining International Operations

DETROIT, Nov. 21, 2012 /PRNewswire/ --

  • Final sale transaction toward strategic plans to repay U.S. Treasury
  • Company focused on further strengthening the U.S. auto finance and direct banking franchises

Ally Financial Inc. (Ally) today announced that it has reached an agreement to sell its operations in Europe and Latin America, as well as its share in a joint venture in China, to General Motors Financial Company, Inc. (GM Financial), a wholly-owned subsidiary of General Motors Co. The transaction is subject to regulatory approvals and is expected to close in stages during 2013. Ally will receive an approximately $550 million USD premium to tangible book value, which for the third quarter of 2012 was approximately $3.7 billion. Based on the third quarter tangible book value for the combined operations, Ally would receive approximately $4.2 billion USD in proceeds from this transaction.    

"In May, we began a process to pursue alternatives for our international operations in an effort to accelerate repayment plans for the U.S. Treasury's remaining investment," said Ally Chief Executive Officer Michael A. Carpenter. "This transaction represents the third and final agreement in recent weeks toward those goals, and, combined, these sales are expected to generate approximately $9.2 billion in proceeds."

Carpenter continued, "Our goals were to find the best solution for each of the businesses, while also maximizing shareholder value, and we believe those goals have been achieved. Next, we are focused on completing each of these transactions and evaluating options to return capital to the U.S. Treasury.

"Going forward, we remain squarely focused on further strengthening and growing our leading U.S. automotive services and direct banking franchises," said Carpenter. "We have strong momentum in these businesses, and continued successful execution of our strategic plans will enable these operations to further thrive." 

The transaction includes auto finance operations in Germany, the U.K., Austria, France, Italy, Switzerland, Sweden, Belgium, the Netherlands, Luxembourg, Brazil, Mexico, Colombia and Chile, as well as a 40 percent equity stake in a joint venture in China. The combined operations in Europe and Latin America represented approximately $16.1 billion in assets at the end of the third quarter 2012.

In October, Ally announced agreements to sell its Mexican insurance subsidiary, as well as its auto finance and deposit businesses in Canada. With the agreement to sell the operations in Europe, Latin America and the joint venture stake in China, Ally will have effectively exited the international markets. In total, these transactions are expected to generate proceeds of approximately $9.2 billion, based on third quarter 2012 tangible book value of $7.6 billion, which reflects a premium of approximately $1.6 billion, or 21 percent. 

About Ally Financial
Ally Financial Inc. is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and online checking.  Ally's Commercial Finance unit provides financing to middle-market companies across a broad range of industries.

With approximately $182 billion in assets as of Sept. 30, 2012, Ally operates as a bank holding company.  For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @ally.

Contact: 
Gina Proia
646-781-2692
gina.proia@ally.com

SOURCE Ally Financial

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Web 2.0 Latest News
DevOps Summit at Cloud Expo 2014 Silicon Valley was a terrific event for us. The Qubell booth was crowded on all three days. We ran demos every 30 minutes with folks lining up to get a seat and usually standing around. It was great to meet and talk to over 500 people! My keynote was we...

#IoT #IDM #SDAS #infosec

As the Internet of Things continues to expand (and it is expanding rapidly) the issue of access to applications is going to get a lot more messy.

One of the benefits of cloud, so I'm told, is it is "easy access" for everyone...

#DevOps

App deployment should be viewed as a comprehensive, end to end process.But we treat it today like each silo is a fork in a project that never merges back together, causing disjointed operations, reporting, measurement and ultimately, failure to meet business priori...

Cryptocurrencies have gained traction in the past half-decade for a variety of reasons. Bitcoin has become the most popular cryptocurrency in the world due to its sudden rise in value and acceptance within the international marketplace. You might be wondering: What does cloud computing...
HP charts a better path to simplified, just-in-time, and pan-IT support improvements -- despite dynamic and complex IT environments. Much of the attention to coping with mega IT challenges such as cloud, bring your own device (BYOD), mobile applications, and big data focuses on adopti...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE