General Motors Corp. says it will cut its stake in Isuzu Motors Ltd. from 49% to 12% and provide funding, along with banks, of at least ¥100 billion ($1.4 billion) to the troubled Japanese truck maker. Under the 3-year restructuring plan, GM’s current 49% stake in Isuzu will be retired, and the U.S. auto maker will pay ¥10 billion ($86 million) for the new 12% share. Isuzu’s major creditor banks, including Mizhou Corporate Bank Ltd., also will provide funding in a debt-to-equity swap of ...
Premium Content (PAID Subscription Required)
"GM to Cut Stake in Isuzu, Provide Funding" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.