GM has announced it has bought the headquarters it currently rents in Detroit for an amount of £313 million.
Despite a £1.6 billion loss for the first quarter of this year, GM has given the green light to buy its headquarters, known as Renaissance Center, for £313 million and two other properties located in Pontiac, Michigan for £100 million.
Built by Ford during the 70’s, the Renaissance Center was leased by GM in 1996 which spent around £250 million to renovate and improve it. The lease was ending on the 1st May which decided the carmaker to buy the building.
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