GM sells Suzuki stake
Author: Robin Brown
Published: 17 November 2008
GM has sold its three per cent stake - 16.4m shares - in Suzuki for around $230m as the beleaguered car-maker attempts to shore up its cash deposits.
GM has owned part of the Japanese manufacturer since 1981, and the businesses will continue promoting and implementing existing project and on entries in new emerging markets.
Suzuki has announced its intention to buy up a similar amount of shares.
Osamu Suzuki, Chairman and CEO, Suzuki Motor Corporation, commented: “Suzuki and GM have been constantly exchanging frank opinions on various topics as business partners. As GM taking this particular step to sell the shares it owns as a step toward strengthening its balance sheet is very understandable, we wanted to support GM’s decision.
"We confirmed each other in a conference call with Wagoner-san and me that all individual initiatives will be pursued as they are today. There will be no impact on Suzuki’s current business plan.”
See Also:
Click here for more Suzuki stories
Click here for more Business and Industry stories
Click here for more GM stories
News and analysis of what's happening in the car industry - at home and worldwide.
Watch video news for the automotive industry in the UK, US, Europe and Far East, with daily updates on new models, motor shows and global automotive markets.
A list of the new road tax bands as described in the 2008 budget. Cars are placed in VED (Vehicle Excise Duty) bands acording to the amount of carbon dioxide emitted by the vehicle.
In this year’s motorshow in Bologne, Fiat is revealing an Oltre Fiat model - clearly shaped after the Hummer, simultaneously rather different.
Classic British styling and performance on Bentley Brooklands luxury coupe promised by Bentley chairman Dr Franz-Josef Paefgen.
advertisement
Jaguar has introduced the new performance-orientated diesel XF S – which also returns an impressive 42mpg. | 05/01/2009
The Audi R8 V10 will offer all-LED headlamps as standard in 2009, paving the way for the introduction of LED headlamps on more Audi models. | 05/01/2009
Rolls-Royce has unveiled a special-edition Phantom as part of its Bespoke Collection in the shape of the Phantom Sapphire. | 05/01/2009
Audi has added more Coupe and Roadster TT variants, with the addition of the new S line specification and more quattro models, available from 1 January. | 05/01/2009
Audi will launch Black editions of its A3 in three-door, five-door and cabriolet guises. | 05/01/2009
|05/01/2009
Rolls-Royce has unveiled a special-edition Phantom as part of its Bespoke Collection in the shape of the Phantom Sapphire.
|05/01/2009
The Audi R8 V10 will offer all-LED headlamps as standard in 2009, paving the way for the introduction of LED headlamps on more Audi models.
|05/01/2009
Audi will launch Black editions of its A3 in three-door, five-door and cabriolet guises.
|05/01/2009
Audi has added more Coupe and Roadster TT variants, with the addition of the new S line specification and more quattro models, available from 1 January.
|05/01/2009
The Association of British Insurers have revealed that an increasing amount of people are jeopardising their insurance cover by lying or failing to disclose information.
|01/10/2008
Euro Car Parts has acquired Pinco 1555 Ltd, including all 53 of LSUK's 53 branches, together with subsidiaries M I Diesel Products, Protech Automotive (UK) and Yeovil Rewind.
|20/11/2007
Around 400 people a day risk damaging their car by misfuelling, and filling up with gas is a mistake that could cost thousands. So what do you do if you´ve filled up your diesel car with unleaded petrol?
|06/12/2007
Fuel protests similar to those that brought the UK to a halt in 2000 are being planned by a breakaway group of disaffected hauliers, according to press reports.
|07/10/2008
Euro Car Parts has put out a statement on the closure of LSUK, stating that a closure of the business was unavoidable due to a 'lack of support'.
|06/10/2008
LSUK, thought to have been rescused by Euro Car Parts, has been unexpectedly closed by the new owners with the loss of over 600 jobs.
Search Motortorque:
No readers comments
Be the first to write a comment on this article