VENTURE CAPITAL POST

Ally Financial Inc (ALLY.N) said on Monday that it completed the sale of its stake in a joint venture with a Chinese auto lender to General Motors Co (GM.N) for $1 billion.

The U.S. Treasury Department will sell its remaining 54.9 million shares of Ally Financial Inc (ALLY.N) acquired under the government's bailout of the auto lender, Ally said on Thursday.

Investor demand for shares of auto lender Ally Financial has grown as evidenced by the increasingly high prices paid for them in recent private transactions, sources told Reuters.

Ally Financial wrote down a USD170 million charge for its third quarter earnings after reaching a settlement with two US housing regulators.

Ally Financial, preparing for its IPO, has dropped JPMorgan from its list of underwriters.