Business
Disposal
Disposal.
About this update from Fdm Group (holdings) Plc
[{"type":"text","content":"\n RNS Number : 4019I Ford Motor Co 18 November 2008 \n \nFORD SELLS A PORTION OF ITS STAKE IN MAZDA; TWO COMPANIES WILL CONTINUE STRATEGIC RELATIONSHIP\n\n\n\nFord Motor Company said it will sell a portion of its ownership stake in Mazda Motor Corp.,and the two companies will continue their successful strategic relationship. The ratio ofFord's ownership of Mazda stock has been reduced from 33.4 percent to just over 13 percent.\n\n\n\n\nThe action is in line with Ford's plan to strengthen its balance sheet and ensure it has theresources to fund its product-led transformation plan focusing on the Ford brand worldwide.\n\n\n\n\nUnder the new agreement. Ford and Mazda will continue their ongoing joint ventures, as wellas the sharing of platforms and powertrains. Ford and Mazda's nearly 30-year relationshiphas been and continues to be an effective way to utilize the resources of both organizationsand maximize joint synergies.\n\n\n\nThe divestiture of Ford's shares in Mazda will be accomplished both through the sale ofshares to Mazda and the sale of shares to a group of Mazda's strategic business partners,\n\nDEARBORN, Mich., Nov. 18, 2008 - Ford Motor Company today announced it has entered into an agreement to sell a portion of its stake in Mazda Motor Corp. and that the two companies will continue their successful strategic relationship that spans nearly 30 years.\nIn line with Ford's plan to strengthen its balance sheet and ensure it has the resources to implement its product-led transformation plan focusing on the Ford brand worldwide, the company said it is reducing its stake in Mazda from 33.4 percent to just over 13 percent.\nUnder the agreement, the divestiture of Ford's shares in Mazda will be accomplished both through the sale of shares to Mazda and the sale of shares to a group of Mazda's strategic business partners. The sales of the Mazda shares will net Ford approximately $540 million.\n'This agreement allows Ford to raise capital that will help fund our product-led transformation, and at the same time, allows Ford and Mazda to continue our successful strategic relationship in the best interest of both companies,' said Ford President and CEO Alan Mulally. 'Ford will continue to focus on the Ford brand worldwide and deliver the products our customers really want and value.'\nFord ...