Ford Motor Co is in need of cash and is looking to selling some of its 33.4% stake in Mazda to raise some money, but does not want rival automakers to buy the shares, so what does it do? It approaches non-automotive manufacturer companies to see if they are interested in buying the stakes.
According to Reuters, here are a couple of companies that Ford has apparently approached so far – Denso, Tokio Marine Holdings, Mitsui Sumitomo Insurance Group Holdings, Sompo Japan Insurance, Nipponkoa Insurance, Aioi Insurance, and trading houses Sumitomo and Itochu. Even Mazda has been approached to buy back some of its own shares from Ford.
Each company has been approached to buy about 1% of Mazda, which is valued at US$40 million. Ford wants to try to raise about US1 billion from this deal.
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.
i guess ford is going for tough times and ford has always been defensive. it has tried to sell of its Premier auto group brands too
ford is so need of cash these days maybe the sale in US market crash.
omg, this is not good….
Ptoton should also make a run for Mazda, oh wait, they’ll need to crack open the rakyat piggybank
Huh? US Market so teruk? Malaysia market oso veli bad wor.
i dun wish to see ford bankrupcy reli
go by urself mazda….i love ur cars at the moment…
the global market is very bad now for new car manufacturer , addon the ford technology on fuel savings is not so good compare with those Japanese car manufacturer , i don’t think so is good to hold up the share of Mazda which is bad in the sales recently.
Volvo and Mazda left to sell. if ford is selling Mazda which is like their only brand currently making $$$, kinda show how desperate Ford is getting.
Good luck Ford. with current financial climate, i am not surprise Ford North America cease to exist a few more quarter down the road.
I just hope Mazda and Ford of Europe continue to work together to dish out sexy cars for themselves like what they have been doing lately.
I think Mazda has more value in future rather than being under Ford. The car designs are great now, with that Zoom-Zoom thing.
jolly_idiot said,
October 18, 2008 @ 6:27 pm
Huh? US Market so teruk? Malaysia market oso veli bad wor.
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us market has been bad for the last 2 years already. and now its worst as suv and pickup sales are very poor..
When Ford gonna sell it for USD1? I hope Naza can buy the shares. proton? No..
the mazda 3 and mazda 6 looks great, but dono why uk ppl say the mondeo is the best
Personally, I would love to see Mazda owning Mazda back again. Would actually love to see it under the Japs management again. But it does show how extremely bad on Ford’s financial situation though. All I could say is that whoever manage owning Mazda is gonna making money as I see that Mazda is on raise again!
i wish one day toyota would be in financial trouble, then we can get back the real good toyotas like the supra
ALPINA BMW said,
October 20, 2008 @ 6:54 pm
the mazda 3 and mazda 6 looks great, but dono why uk ppl say the mondeo is the best
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Cuz it’s the most all-rounder? Space, spec, price, etcetc, Ford offers a better package IMHO.