Despite a relationship dating back nearly 30 years, Ford in the USA have decided that cash talks and have sold off part of its share in Mazda Motor Corp.
The company said it is reducing its stake in Mazda from 33.4 percent to just over 13 percent.
Under the agreement, the divestiture of Ford’s shares in Mazda will be accomplished both through the sale of shares to Mazda and the sale of shares to a group of Mazda’s strategic business partners. The sales of the Mazda shares will net Ford approximately $540 million.
Ford and Mazda will continue their ongoing joint ventures, as well as the sharing of platforms and powertrains. Ford will remain Mazda’s largest shareholder and will maintain a seat on Mazda’s Board of Directors.
