Ford says it will drop its stake in Mazda Motor Corporation to 3.5% from 11% with the deal expected to close tomorrow (19 November).
Last month Mazda refuted claims Ford might consider changing its stake, noting: “News about a change in the capital tie-up between Ford and Mazda was the result of speculation by the journalist.
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“Mazda and Ford continue to enjoy a close strategic partnership and there is no change to this relationship.”
However, Ford insists it plans to remain one of Mazda’s largest shareholders and remains committed to its partnership with Mazda.
Ford and Mazda will continue to cooperate in areas of mutual benefits such as key joint ventures and exchange of technology information, added the US automaker.
