GM will sell stock back to Suzuki, reducing it's current shares from 20.4 percent to 3 percent. By selling 92.36 million shares. GM hopes to realize U.S. $2 billion by the sale.
GM and Suzuki plan on continuing their joint research into alternative fuel sources, including fuel cell and hybrid systems. They have reportedly put in an option for buying back the stock within one year, as well.
Monday, March 06, 2006
GM to sell off stock in Suzuki
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