More in Restructuring

  • Newswire

    Ssangyong Says Mahindra Denies Plan to Raise Stake  

    Ssangyong says Mahindra & Mahindra, which owns 72.85% of the Korean automaker, denies a television report that the Indian industrial conglomerate will raise its stake to between 90% and 95%....More
  • Newswire

    French Government Completes Renault Stake Increase  

    The government's stake in Renault stands at 19.74%, up from 15.01%, in a move designed to obtain the extra voting weight needed to block efforts to uphold the automaker's one-share, one-vote capital structure....More
  • Newswire

    Mahindra & Mahindra Pursuing Pininfarina, Sources Say  

    Two sources familiar with the negotiations say the Indian automaker intends to present a formal offer for the Italian design studio before its April 29 shareholder meeting....More
  • Newswire

    Magna Selling Bulk of Interiors Business to Spanish Firm  

    Spain's Grupo Antolin is spending $525 million to purchase 36 manufacturing plants with 12,000 employees in Europe, North America and Asia from the Canadian parts maker....More
  • Newswire

    Marchionne:FCA Likely to Retain 90% of Ferrari in IPO  

    The likely 10% limit on FCA's sale of Ferrari shares marks a switch from a month ago, when CEO Sergio Marchionne said the automaker might sell more than 10% to improve the shares' liquidity....More
  • Newswire

    VW Moving to Take CEO Scrap Out of Public Eye  

    Sources with the automaker say Chairman Ferdinand Piech will meet within days with cousin Wolfgang Porsche and other family members to discuss Piech's public criticism of CEO Martin Winterkorn....More
  • Newswire

    Ford to gain control of Russia JV and provide finance  

    MOSCOW, April 10 (Reuters) - U.S. auto maker Ford Motor Co will take control of its Russian venture with Sollers and provide it with additional financial support, the Russian firm said on Friday. Ford is taking control in exchange for preferred shares in the Ford-Sollers venture, while its economic interest in the venture remains unchanged at 50 percent, Sollers said. The companies agreed the changes to the venture's shareholder structure on March 31, Sollers said, without providing any financial details of the transaction....More
  • Newswire

    France Ups Renault Stake in Challenge to Ghosn  

    The government says it temporarily is raising its stake in the automaker from 15% to 19.7% to secure double voting rights for itself and other long-term investors ahead of an April 30 shareholders meeting....More
  • Newswire

    Faurecia, Dongfeng Form Chinese Car-Parts Production JV  

    French parts-maker Faurecia says it intends to sell components to Dongfeng and the Chinese automaker's automaking partners Peugeot, Nissan, Honda and Kia....More
  • Newswire

    PSA's CEO Says Merger Off Table Pending Turnaround  

    Carlos Tavares, CEO of the French automaker, says "it's a little bit early" to consider a merger while its recovery continues....More
  • Newswire

    Visteon CEO Leuliette Stepping Down  

    The 65-year-old Leuliette has overseen the supplier's restructuring into specializing in automotive electronics....More
  • Newswire

    Supplier Valeo's CEO Says Acquisitions on Table  

    Jacques Aschenbroich says Valeo is growing its capabilities in areas such as hybrid technology and connected cars, and wants to pursue an "active role in potential consolidation" with other suppliers....More
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