Autoparts supplier Delphi said its buying back ownership from General Motors and the U.S. for $4.4 billion dollars. Delphi is paying G.M. $3.8 billion and $594 million to Pension Benefit Guaranty Corp for the share that are held by both, respectively. Find out more after the jump.According to

“These transactions represent an important step in positioning Delphi to continue to increase shareholder value,” Delphi President and CEO Rodney O’Neal said in a statement. also wrote:

GM said it will book a gain of $1.6 billion from the sale. It paid $1.7 billion for the stake in Delphi in 2009, but that was revalued at $2 billion at the end of last year. GM also noted that it sold its preferred stock in Ally Financial for $1 billion earlier this month, for a first-quarter gain of $300 million.

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