Manufacturing Industry
GENERAL MOTORS CORP - GM to Sell Equity Stake in Suzuki.
PR Newswire UK Disclose, March, 2006
General Motors to Sell 17.4 Percent Equity Stake in Suzuki
Will retain 3 percent, continue strategic alliance
DETROIT, March 6 -- General Motors Corp. (NYSE: GM) today
announced it would reduce its equity stake in Suzuki Motor Corp. from 20.4
percent to 3.0 percent, by selling 92.36 million shares. The strategic
alliance between GM and Suzuki will continue.
GM plans to sell these Suzuki shares, representing 17.4 percent of the
shares outstanding, through the Suzuki open-market buyback program and through
market sales if necessary.
GM currently holds a total of 108.66 million Suzuki shares, which had a
closing price of JPY 2500 per share on March 3 on the Tokyo Stock Exchange.
Based on this market value, GM expects to realize...
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