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Ford sells 20% of Mazda shares…

November 19, 2008

Well, we said it earlier, but now this rumor has become a reality. This morning (U.S time) Ford Motor Company sold off 20% of its original 33.4% shares in the Mazda Motor Corp. Follow the jump for the rest of the story…

Mazda symbol

Here is the full story from Autoblog:

Well, we have to say we saw this coming. Ford has officially sold off approximately 20% of its stake in Mazda. The sale reduces Ford’s share from a controlling 33.4% interest to just over 13% and puts about $540 million into the Dearborn coffers, based on a sale price figured at Mazda’s closing value Tuesday. The cash infusion will certainly help Ford’s bottom line in these rough economic times, and the fact that the shares are being sold back to Mazda (7 percent) and to about 20 of its strategic partners means that Ford’s remaining stake will still give it significant leverage in their partnership. Even with just 13%, Ford will remain Mazda’s largest shareholder and will keep its seat on the Mazda Board of Directors. The two companies say that this will not effect Mazda’s operations and that Ford and Mazda will continue their nearly 30-year history of cooperation. According to the official statement, which can be found in its entirety after the jump, Ford and Mazda will continue their ongoing joint ventures and will continue to share platforms and powertrains.

So there you are. This could actually be a smart move by Ford in the long run…

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