Official: Ford Selling 20% of Its Shares in Mazda
Posted on 18. Nov, 2008 by DeuxEx3 in Mazda News, What's Hot
If you didn’t already see this coming then know that it is now official: Ford will be selling approximately 20% of its shares in Mazda with Mazda purchasing about 6.87% and the remaining shares being bought by up to 20 other companies.
Companies expected to pick up ownership in Mazda include auto parts manufacturer Denso Corp. (Source of the 2010 Mazda 3’s Adaptive Front Lighting System?), Sumitomo Corp and Itochu Corp, both trading houses in Japan.
After all is said and done Ford will continue to be Mazda’s largest shareholder with a stake just over 13%. The news comes as no surprise since Ford posted a $2.98 billion loss for the quarter earlier this month and on the heels of Ford selling off other auto monikers in their entirety including the sale of Jaguar, Land Rover and Aston Martin.
Despite the sale and reduction of shares both Ford and Mazda have made it clear that the two companies will continue to work together in the future by sharing assembly plants, platforms, engines and technology.
[Source: Reuters UK, Associated Press]
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