GM to sell stake in Japan's Suzuki for $2 billion

[Drew]

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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