Ford (F) Talking to Potential Buyers to Sell Mazda Stake
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Ford Motor Co. (NYSE: F) is looking to sell what remains of its stake in Japan's Mazda Motor Corp., which stand at 11 percent, by the end of this year.
The U.S. automaker has spoken with 10 potential buyers about selling the stake in Mazda, that once stood at 33.4 percent. Ford sold the majority of its stake in the Japanese automaker to aid in the impact from the global economic crisis in 2008.
The Nikkei business daily reported that Ford has spoken with Tokyo-based trading conglomerate Itochu Corp. and Sumitomo Banking Corp. among other about the Mazda stake.
The two automakers have been partnering since 1979 when Ford intended to make fuel efficient cars based on technology from Mazda, which needed Ford to fund its R&D.
The U.S. automaker has spoken with 10 potential buyers about selling the stake in Mazda, that once stood at 33.4 percent. Ford sold the majority of its stake in the Japanese automaker to aid in the impact from the global economic crisis in 2008.
The Nikkei business daily reported that Ford has spoken with Tokyo-based trading conglomerate Itochu Corp. and Sumitomo Banking Corp. among other about the Mazda stake.
The two automakers have been partnering since 1979 when Ford intended to make fuel efficient cars based on technology from Mazda, which needed Ford to fund its R&D.
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