Report : Ford sells out 20% of its stake in Mazda, and 13% remaining

Yesterday we reported that GM plans to sell equity stake in Suzuki. Just like GM, Ford has huge financial crisis and looking for ways to raise capital.

This morning Ford Motor Company 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. That portion of stake is 20% out of 33.4% that Ford owns Mazda of it. So that leaves 13% still with Ford. The sales of the Mazda shares will net Ford approximately $540 million. This money wouldn't cover their financial problem, but it should help.

Despite the near break-up, Ford and Mazda agreed to keep sharing platforms and powertrains.

Source : [Ford]