General Motors has sold its three per cent stake in Suzuki. The Japanese car maker is buying back the shares for £150m ($230m).
GM owned a fifth of Suzuki in 2006, but sold 17 per cent back to company during a previous cash flow crisis for £1.1bn ($2bn).
At that time, Suzuki Chief Executive Osamu Suzuki explained that the company wanted to help General Motors through its difficulties.
"We've been under the support of GM for a long time and this time it's our turn to help GM,” said Suzuki. “I don't think the partnership is in deep trouble. It's just that GM needs help."
Suzuki has said that the companies, which have been collaborating for 25 years, would continue to work on joint projects.
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Re: GM sells Suzuki stake
In reality the whole car market has changed. Once upon a time you had to have a stake in a company to work with them. Now, joint ventures are more common place and necessary.
To be honest, I don't think with regards to products and collaborations, we will see any difference. After all, a three percent stake in any company doesn't amount to a whole lot.
Re: GM sells Suzuki stake
Wow - what a fantastic attitude that Company has got. I'm sad that they've had to do this because I've a lot of time for Suzuki and I'll bet there are a lot of people within GM who see it the same way.