Ford Motor Co. reduces stake in Mazda to 3.5 percent from 11 percent.

Ford cuts Mazda stake and won't be largest shareholder Companies promise to continue strategic partnership Douglas A. Bolduc November 18, 2010 - 3:01 am ET
Ford Motor Co. announced today it will reduce its stake in Mazda Motor Corp. to 3.5 percent from 11 percent. The transaction is expected to be completed Friday.
The U.S. automaker will become Mazda's fourth-largest stakeholder after selling the shares, the Japanese company said today in a statement to the Tokyo Stock Exchange. Ford has been Mazda's biggest shareholder since 1979.
"Both companies are committed to continuing our strategic partnership which spans over 30 years," Mazda CEO Takashi Yamanouchi said in a statement. "Mazda and Ford will continue to collaborate on areas of mutual benefit such as key joint ventures, joint projects and exchange of technology information."
There has been speculation that Ford was looking to reduce its Mazda stake to gain more flexibility in its Chinese operations.
Mazda said that the 7.5 percent stake that Ford will dispose of will be transferred to Mazda's business partners via off-auction trading through the Tokyo stock exchange.
Yamanouchi said that Chase Manhattan Bank, which had 7.1 percent of Mazda as of Sept. 30, would likely move up to the top spot.
Ford took a 25 percent stake in a debt-ridden Mazda in 1979, lifting that to a controlling 33.4 percent in 1996. In late 2008, it reduced its interest to 13 percent as it sought to raise cash. That stake fell to 11 percent when Mazda issued new shares last year.
Bloomberg and Reuters contributed to this report
FORD PRESS RELEASE: Ford to Change Stake in Mazda; Both Companies Remain Committed to Strategic Partnership
DEARBORN, Mich., Nov. 18, 2010 /PRNewswire via COMTEX/ -- Ford Motor Company (NYSE: F) today announced it will change its stake in Mazda Motor Corporation to 3.5 percent from 11 percent. The transaction is expected to be completed Friday.
Ford said the decision to reduce its ownership stake in Mazda allows it to increase flexibility as it continues to pursue growth in key emerging markets. Ford said it plans to remain one of Mazda's largest shareholders and remains committed to its strategic partnership with Mazda, which spans more than 30 years.
Ford and Mazda will continue to cooperate in areas of mutual benefits such as key joint ventures and exchange of technology information, Ford said.
MAZDA PRESS RELEASE: Ford to Change Ownership Stake in Mazda
- The two companies will continue their strategic partnership -
HIROSHIMA, Japan-Mazda Motor Corporation today received notification from Ford Motor Company that Ford will transfer part of its shares in Mazda to several of Mazda's business partners.
Ford's current stake in Mazda is 11 percent. After completion of the share transfer, Ford will continue to be one of Mazda's largest shareholders with a stake of 3.5 percent. In the best interests of Mazda's stakeholders and other shareholders, the remaining 7.5 percent will be transferred to Mazda's business partners via off-auction trading through the Tokyo Stock Exchange.
Mazda and Ford have agreed to continue their strategic partnership and this change in shareholding will not affect Mazda's business direction or financial projections.
"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."
You can reach Douglas A. Bolduc at snipped-for-privacy@crain.com.
Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20101118/COPY01/311189950/1179
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Yeah. So what?
<copyrighted material deleted>
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Motorsforum.com is a website by car enthusiasts for car enthusiasts. It is not affiliated with any of the car or spare part manufacturers or car dealers discussed here. All logos and trade names are the property of their respective owners.