BCR Publishing has today received confirmation that GMAC’s acquisition of the Bank of America’s factoring business was effective as of 31 December 2000. A press release was not issued at the time as “such acquisitions are a normal course of business for us” according to a GMAC representative.
GMAC has declined disclosure of the purchase price of its acquisition.
Rumours have been in circulation since the beginning of December 2000, but there has been a reluctance on the part of both of the relevant parties to discuss the matter.
GMAC has prepared the following statement for BCR Publishing:
