Source: NHK URL Source:
US automaker General Motors has decided to sell its stake in Isuzu Motors to Japanese firms.
General Motors has been negotiating to sell its 7.9 percent stake in the Japanese truck maker Isuzu, as part of measures to restructure its struggling business.
Sources say General Motors has agreed with two major Japanese trading firms, Mitsubishi Corporation and Itochu Corporation, to sell 3.5 percent, or 40million shares, to each firm.
It has also agreed with Mizuho Corporate Bank to sell 0.9 percent, or 10 million shares.
The sale of Isuzu shares completes a review of strategies by General Motors regarding three Japanese auto makers in its group.
The firm sold its stake in Fuji Heavy Industries, known as the Subaru brand, last October, and most of its stake in Suzuki Motors last month.
The sources say General Motors plans to continue its business tie-up with Isuzu, including the purchase of diesel engines.