By Drew Johnson
Tuesday, May 15th, 2012 @ 11:09 am
 
General Motors has expressed interest in purchasing Ally Financial's international auto lending business. Ally announced on Monday that it was putting its international business up for sale.

"We're interested in it, but we're not going to bleed to buy it," GM CEO Dan Akerson told Bloomberg. "We're the natural buyer."

GM is no stranger to Ally's operations as it owned its predecessor, GMAC, until 2006. GM sold a 51 percent stake in GMAC to Cerberus Capital Management, the former owner of Chrysler.

Ally is seeking to sell about $30 billion worth of assets in Canada, Mexico, Europe and South America. However, it remains unknown if Akerson is interested in the whole lot or just specific pieces.

Like GM, Ally is currently propped up by a federal bailout loan. Ally received $17.2 billion in government loans, leaving the U.S. Treasury Department with a 74 percent stake in the company. However, the sale of its international business may allow Ally to repay more than $11 billion of that debt.