GM to Sell Stake in Suzuki to Raise Cash

By: Associated Press Email
By: Associated Press Email

Tokyo (AP) Suzuki Motor Corp. says General Motors Corp. will sell its stake in the Japanese automaker for 22.37 billion yen, or $230 million, to raise cash.

Suzuki said Monday it would buy back the entire 3.02-percent stake from GM.

GM, Ford and Chrysler are seeking $25 billion from the U.S. government to get them through the economic crisis and the worst sales slump in more than 25 years.

The GM-Suzuki partnership dates back to 1981. But those ties have loosened recently after GM sold 17 percent of Suzuki in 2006, leaving it with a 3 percent stake.

They look for home sales and housing starts to hit bottom by the middle part of next year.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:
KKCO NBC 11 News
2531 Blichmann Avenue
Grand Junction, CO 81505

Station Phone: 970.243.1111
Business Fax: 970.243.1770
Newsroom Fax: 970.245.3793
News Tip & Contest Line: 970.255.8477
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 34590614 -
Gray Television, Inc.