FoMoCo lines up buyers to sell most of Mazda stake

Mazda’s CEO Takashi Yamanouchi recently said that the Japanese automaker isn’t considering any other partners except FoMoCo. However, reports from Japanese media suggest that Ford is set to sell most of its remaining stake in Mazda with trading house Itochu Corp and general contractor Kajima Corp along with nearly 10 firms that will buy shares from the Dearborn automaker.

The Nikkei newspaper reported that Ford has completed talks with potential buyers on Tuesday and is looking to sell its stake to gain more flexibility in its Chinese operations.

Ford, which currently holds a 11 percent stake in Mazda, will be left with 3 to 4 percent.

– By: Omar Rana

Source: Reuters