General Motors Corp.’s painful process of reinventing itself apparently will proceed without Kirk Kerkorian, whose ownership of almost 10 percent of the world’s largest automaker failed to leverage the changes he sought.

The Wall Street Journal, citing an unidentified person close to the matter, reported Thursday on its Web site that the billionaire investor sold his entire remaining investment in GM , 28 million shares , at $29.95 a share, a transaction worth more than $800 million. The newspaper reported that the shares were sold to Bank of America, a key lender to Kerkorian.

Spokeswoman Melissa Fox said Friday that Bank of America completed a transaction involving 28 million shares of GM stock on Thursday. She declined to elaborate.

Tracinda spokeswoman Carrie Bloom and GM spokeswoman Gina Proia had each declined comment Thursday on the Journal report.