GM reduces Suzuki stakeholding from 20% to 3%
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.
March 8, 2006 @ 10:47 pm
GM continues to shrink…………while toyota continues to eat……………….wat a scenario……someone sells, someone buys.
March 9, 2006 @ 1:08 am
Toyota rulzzzzzzz LoL!!!
Go go go toyota!!!Go for ur throne