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Ford Selling Part of its Stake in Mazda
18 November 2008
Ford Motor Company is selling a portion of its stake in Mazda Motor Corp. Mazda and several of its strategic business partners will acquire the shares through market trading. As a result, the ratio of Ford’s ownership of Mazda stock will be reduced from 33.4% to just over 13%, with the new agreement allowing the two companies to continue their strategic relationship that spans nearly 30 years.
The sales of the Mazda shares will net Ford approximately $540 million.
The sale of Mazda shares by our partner, Ford, will not result in any change in Mazda’s strategic direction and we will continue to accelerate our product-led brand improvement and cost innovation initiatives. We will continue our strategic relationship through our ongoing joint ventures with Ford, as well as the sharing of platforms and powertrains.
—Mazda’s Chairman, President and CEO, Hisakazu Imaki
November 18, 2008 in Brief | Permalink | Comments (0) | TrackBack (0)
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