Mitsubishi Motors Corp. plans to take full ownership of its Pajero Mfg. Co. Ltd. (PMC), in which it currently holds a 66.6% stake. PMC will be made a wholly owned subsidiary via an equity swap on March 20. MMC will issue 3.8 million common shares, representing about 0.3% of its outstanding shares, for the transaction. PMC makes various Mitsubishi SUVs, including the Pajero and Pajero Sport/Montero Sport (export model). Last year PMC produced a record 170,000 units, largely due to ...

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