GM is going on a share dumping spree. It previously unloaded Subaru shares partly to Toyota and the rest onto the open market. It’s recent stake dump is in the form of Suzuki Motor Corp shares. Suzuki Motor Corp and General Motors recently engaged a 17% share buyback transaction worth USD$1.96 billion. Most of the transaction is complete.
This is part of GM’s efforts to raise cash to continue operating and execute it’s turnaround plans after losing USD$8.6 billion last year. GM will continue to hold about 3% stake in Suzuki Motors after the transaction is complete.
After dabbling for years in the IT industry, Paul Tan initially began this site as a general blog covering various topics of personal interest. With an increasing number of readers paying rapt attention to the motoring stories, one thing led to another and the rest, as they say, is history. An avid electronic gadget aficionado as well as big-time coffee lover, he's also the executive producer of the Driven motoring TV programme.
GM continues to shrink…………while toyota continues to eat……………….wat a scenario……someone sells, someone buys.
Toyota rulzzzzzzz LoL!!!
Go go go toyota!!!Go for ur throne