Ford sells stake in Mazda to stay alive
November 19th, 2008 Leave a comment Visited 31 times, 1 so far today
Ford sells stake in Mazda to stay alive
US based automaker Ford Motor has announced that they have sold 20% of their stake in Mazda.
The company is going to raise $538 million through this deal as they face massive credit crunch.
Ford however continues to remain the top Mazda shareholder with 13% stake.
The company added that their strategic collaboration with Mazda would continue as before.
The deal had little affect on the Ford stock as it went up by around 1%.
Mazda Chief Executive Hisakazu Imaki said in a statement: “The sale of Mazda shares by our partner, Ford, will not result in any change in Mazda’s strategic direction. We will continue our strategic relationship through our ongoing joint ventures with Ford, as well as the sharing of platforms and powertrains.”
Automobiles, Automobiles, Cars, Ford, Ford Motor, Hisakazu Imaki, mazda, USA
Somanshu
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