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Report: Ford Seeking to Sell a 20% Interest in Mazda to Insurers, Trading Companies, Autoparts Makers
18 October 2008
The Nikkei reports that Ford Motor Company has requested that five leading non-life insurers, including Tokio Marine Holdings Inc. and Mitsui Sumitomo Insurance Group Holdings Inc., buy some of its shares in Mazda Motor Corp. Ford holds 33.4% of Mazda’s stock.
Also considering a stake in Mazda, according to the report, are general trading companies and some autoparts makerssuch as Denso Corp.
Ford...intends to unload a roughly 20% interest to restructure its struggling operations. Mazda is also likely to buy back some of its shares.
October 18, 2008 in Brief | Permalink | Comments (1) | TrackBack (0)
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Posted by: lukematt | November 18, 2008 at 06:22 AM
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Ford buys shares in Mazda; Ford sells shares in Mazda.
BMW bought British automaker Rover; BMW sold British automaker Rover.
Daimler-Benz bought Chrysler; Daimler-Benz sold Chrysler.
Ford bought Jaguar; Ford sold Jaguar.
Wake up, people. Hello! Hello! Do you see a pattern here?
WHY WOULD SUPPOSEDLY INTELLIGENT EXECUTIVES MAKE SUCH MAJOR ACQUISITIONS ONLY TO SELL THEM A FEW YEARS LATER?
(Answer: Because they were just following orders)