Ford to sell most of its remaining stake in Mazda

Article by Christian A., on November 18, 2010

Media reports in Japan indicate that most of Ford Motor Co.’s remaining stake in Mazda Motor Corp. will be sold to trading house Itochu Corp. and general contractor Kajima Corp.

These two companies are included in the nearly 10 firms that will purchase shares. According to a report from the Nikkei business daily, talks with potential buyers were concluded last Tuesday.

Ford is seeking to sell its stake to achieve more flexibility in its Chinese operations.

Media said further that the sale will leave it with a stake of 3 to 4% in Mazda. Last month, sources disclosed that Ford will sell most of its remaining 11% stake in Mazda and that talks were ongoing with potential buyers, including trading house Sumitomo Corp. and other Japanese business partners of Mazda.

In Nikkei’s latest report, Itochu and Sumitomo will each purchase a 3% stake for about 10 billion yen ($119.7 million). Meanwhile, Mazda's main lender Sumitomo Mitsui Banking Corp., which already holds a 2.9% stake, is expected to buy more shares.

The Nikkei said that the other shares will go to companies that do business with Mazda, including materials and parts suppliers. [via autonews - sub. required]

Topics: ford, mazda, shares

If you liked the article, share on:

Pin It

Comments

Recommended

It’s quite safe to say that this generation marks the rise of the electric cars. For the past few years, automakers have been very busy trying to find the perfect...
by - March 28, 2017
Want to go for a sportier look, but don’t have enough cash to burn? Good news for future Ford Edge buyers, as the 2018 model year will have an optional...
by - March 28, 2017
Audi refreshes its portfolio as its go-faster division officially announces the release of six new RS models by the end of 2018. That’s quite a huge number of cars to...
by - March 28, 2017
Has Toyota started the production of a new electric supercharger? Well, a patent that was recently published indicated that they might have. And this electric supercharger looks more durable and...
by - March 27, 2017
The Tesla Model S has finally arrived in South Korean soil and is now available for test drive. But, there’s a catch. You’ll have to wait several months if you...
by - March 27, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries