Allison Transmission sale completed

August 7, 2007
General Motors Corp. said today it has completed its $5.6 billion sale of Allison Transmission to Carlyle Group, based in Washington, D.C., and Onex, of Toronto.

Allison employs about 3,400 in Indianapolis.

Observers have said the equity firms' ownership likely would benefit the Indianapolis operation because Carlyle has deep military and government connections that could result in military contracts. Other companies, such as Ford Motor Co., also might be interested in buying the transmissions now that Allison is no longer owned by rival GM.

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