General Motors (GM) - Get Report has increased its stake in its lending arm GMAC thanks to an $884 million loan from the Treasury Department.

GM, according to the filing with the

Securities and Exchange Commission

, will now hold 59.86% of the company. The former stake was 49%.

As part of the federal bailout for GMAC approved late last year, the financing company received $5 billion from the government's $700 billion bank rescue package.

The rest of the GMAC equity is held by private Cerberus Capital Management, a large holder of Chrysler. Cerberus, which led an investment group that bought a 51 percent stake in GMAC from the automaker for $14 billion in 2006, will reduce its stake in

GMAC

to no more than 33%. Cerberus recently sold a 35% stake in Chrysler to

Fiat

.

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