Monday, November 17, 2008

Report : GM sells remaining 3% stake in Suzuki

GM announced today it would sell its remaining equity stake in Suzuki Motor Corp. Which is 16,413,000 of Suzuki's shares, which is equal to 3% of Suzuki’s total issued common stock, on the open market. Based on today’s market price, the shares are worth nearly $230 million. $230 million will not cover their terrible condition right now, but every nickle helps!

GM and Suzuki will also continue promoting and implementing their existing projects, including development and collaboration on advanced technologies such as hybrids and fuel cells.

Source : [General Motors]

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