Thursday, November 18, 2010

Ford to Sell off Most of its Remaining Mazda Stake

Even though the Ford Motor Company - Mazda Motor Corp. alliance was one of the most longstanding partnerships with many benefits for both parties, the Detroit automaker today announced plans to sell more than two-thirds of the shares it holds in the Japanese firm. Ford said it will reduce its stake in Mazda from 11 percent to 3.5 percent, with the transaction expected to be completed on Friday. With this move, Ford gives up its title as Mazda's biggest single shareholder for the first time in 31 years.

The two companies said they will continue their strategic partnership in areas of mutual benefits such as key joint ventures and exchange of technology information.

"Ford will remain one of Mazda's largest shareholders with a 3.5- percent stake, and both companies are committed to continuing our strategic partnership which spans over 30 years," says Mazda's Representative Director and Chairman of the Board, President and CEO, Takashi Yamanouchi. "Mazda and Ford will continue to collaborate on areas of mutual benefit such as key joint ventures, joint projects and exchange of technology information."