DETROIT - A GENERAL Motors official says the automaker could consider selling its downtown Detroit headquarters as part of a way to raise cash, but plans to stay in the towering complex.
The Detroit News reports on Tuesday General Motors Corp. wants to borrow about US$500 million (S$730 million) from one or both of Detroit's pension funds to refinance the Renaissance Center, which it bought earlier this year for US$626 million.
GM's executive director of worldwide real estate John Blanchard says talks are preliminary and the automaker is 'committed to the city.' It moved its headquarters from Midtown Detroit in 1996 and initially leased the building.
GM earlier announced it was putting assets such as its Hummer truck brand up for sale and could announce more asset sales this quarter. -- AP
