OREANDA-NEWS. February 06, 2015. Canada's government renewed its pledge Thursday to quickly sell its shares in General Motors received in exchange for bailing out the automaker, after Ontario province unloaded its last GM shares.

"The government plans to exit from its holdings in GM in an expeditious manner, while maximizing the value for Canadian taxpayers," a senior finance official told AFP.

A similar statement was made a year earlier in the government's last budget.

On Wednesday, the province of Ontario sold all of its remaining shares in GM for an estimated Can\\\$1.1 billion (US\\\$880 million).

The funds are to be used to fund road and transit projects.

The province and Ottawa had received a 12 percent stake in GM in exchange for Can\\\$9.5 billion that was given to the auto maker as part of a US-led bailout of the auto industry in 2009.

GM shares were up slightly in New York Thursday afternoon, at \\\$36.23.