03-06-2006, 10:30 AM
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#1
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Regular User
Join Date: Mar 2006
Location: USA
Posts: 36
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GM to sell stake in Japan's Suzuki for $2 billion
TOKYO - Struggling General Motors Corp. will sell a 17.4 percent stake in Japan's Suzuki Motor Corp. for $2 billion, scaling down its share in an effort to gain much-needed cash, but the partnership between the automakers will continue, both sides said Monday.
GM — which is embarking on a massive turnaround effort after losing $8.6 billion last year — will maintain a 3 percent stake in Suzuki, dropping to seventh largest shareholder from top shareholder.
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http://www.msnbc.msn.com/id/11695786/
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