Toyota takes a larger share of FHI
A number of months back it was reported that Toyota would buy a larger share of FHI, maker of Subaru cars. Well, now it's official, and a done deal. Today FHI announced it had decided to sell 61 million treasury stocks that it owns to bigger rival Toyota Motor Corp. for 31.11 billion yen ($291.1 million), in order to enhance the capital and business partnership between the two companies...
The deal will increase Toyota's voting rights in Fuji Heavy to 16.16 percent from 9.50 percent at present.
Full story here.
- Permalink | Comments (2)
- Posted by: Bob Holland June 27, 2008, 5:55 AM
- Categories: Auto Industry, Subaru, Toyota, Trends
Wow, Toyota is getting close to owning a controlling share.
That's certainly enough to sway most votes on the Board.
I still think this partnership can be good for both companies. Bring on the affordable coupe!