GM sells Subaru shares
In 2000, GM bought a 20% share of Fuji Heavy Industries (Subaru’s parent company) for approximately $1.3 billion, and now they’re selling it for approximately $700 million. Among the buyers of the Fuji Heavy Industries stock is Toyota, who will acquire 8.7% of the company for $315 million.
Who else thinks this is a good thing?
More info:
- GM to sell its stake in Subaru parent (USA Today)
- GM to sell off stake in Fuji (Detroit Free Press)