Billionaire Warren Buffett became the majority shareholder of GM

Berkshire Hathaway Inc. company. owned by U.S. billionaire Warren Buffett bought 10 million shares of General Motors, raising its stake in the company to 25 million shares.According to information disclosed in a document filed with the Securities Commission on Thursday, the latest investment is the result of the U.S. government sold part of GM's shares.
GM shares were down 3.2%, corresponding to 92 cents to $ 27.75 on Thursday in New York Stock Exchange after the company announced financial results for the fourth quarter and full year 2012.
GM shares of Berkshire has a total value of approximately $ 694 million based on Thursday's closing price, making this company one of the largest shareholders of GM. Buffett is known as a class investors with patience and long-term vision in the stock market. Berkshire Hathaway also owns a part of BYD Co., a Chinese car company is specialized in manufacturing electric vehicles.

             

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Berkshire bought 10 million shares of GM in early 2012 with the average price of 25.66 USD and buy another 5 million shares in the third quarter of the same year. President and GM CEO Dan Akerson told the Detroit News in an interview in 2012 that "Buffett is a wise investment."
On January 12, the U.S. Treasury announced it will sell 200 of the 500 million shares of GM to collect about $ 5 billion. U.S. government to bailout launched in 2008 and 2009 to save GM from bankruptcy still owns 19% shares of the company.
On Thursday, Buffett also shook investors announced partnership with 3G Capital to buy food manufacturing giant HJ Heinz Co. in a deal worth $ 28 billion, including assumed debt.