News Brief
Ford Spins Off Another Chunk Of Mazda Stock
Nov 18, 2010, 10:47 AM
Ford Motor Company is selling a chunk of its 11% stake in Mazda. The former company has been reducing its stake in the Japanese automaker for several years. The Dearborn automaker went from having a controlling 33.4% stake in the company to owning just 13% two years ago when it sold a large portion to avoid taking government cash.
The relationship generated a rare success story in the minefield of auto-company M&As: The Fusion, Mazda6, Fiesta and Mazda2 are hot-sellers that share platforms and helped revive both companies as the sun started to set on traditional SUVs as the major revenue driver for the U.S. auto market. Ford had been a major shareholder in Mazda since the late 1970's.
After the shares shift, Ford will have a 3.5% stake in the company with the 7.5% going to Mazda's business partners via off-auction trading through the Tokyo Stock Exchange.
Mazda and Ford have agreed to continue their strategic partnership and the companies say the change in shareholding will not affect Mazda's business direction or financial projections.
Recent Marketing Daily Articles
-
Champs Taps Westbrook For Ad Push May 17, 4:52 p.m.
When it comes to a spokesperson deal, if you’re a star athlete you don’t necessarily have ... -
Strategic Vision: Domestics' Strong Showing In Quality May 17, 4:47 p.m.
For several years there has been convergence in the automotive market. No, we're not speaking of ... -
Athenos Unleashes 'Cooking With Yiayia' Campaign May 17, 9:48 a.m.
Julia Child she isn’t, but Yiayia brings her own, trademark irascible appeal to a new series ... -
Gen Y's Favorites: JCPenney, Target, Walmart, Kohl's May 17, 9:07 a.m.
For all of Gen Y’s ballyhooed love of techno-shopping, it turns out that retailers have little ... -
Hanes Aims Destruction Videos At Gen Y May 16, 11:25 p.m.
In an effort to encourage Millennial men to slip into its new ComfortBlend socks, tee shirts ... -
FirstBank Expands Ad Campaign May 16, 11:11 p.m.
FirstBank is extending its TV advertising for the first time outside of its home state of ... -
Jennie-O Partners With 'Recipe Rehab' May 16, 1:07 p.m.
Jennie-O products are being featured in integrations in the popular “Recipe Rehab” show, and in a ... -
2 Audiences, 2 Approaches For Samsung Monitors May 16, 12:27 p.m.
When we get consumers to shell out money for high-end computer monitors, it’s important to give ... -
Meaty: Whole Foods, Smithfield Talk Healthier Hogs May 16, 6:24 a.m.
Looks like meat marketing is stepping center stage. Whole Foods Markets, in celebration of Animal Welfare ... -
Hyundai Says Everything's Gonna Be All Right May 15, 11:40 p.m.
Every little thing gonna be all right. Especially if you have car trouble. Hyundai Motor America ...
Be the first to comment on "Ford Spins Off Another Chunk Of Mazda Stock "
Leave a Comment