Toyota raises stake in Fuji Heavy to almost 17 pct

Newswire

DETROIT, June 27 (Reuters) - Fuji Heavy Industries Ltd , the maker of Subaru cars, will sell 61 million shares valued at 31.1 billion yen ($293 million) to Toyota Motor Corp , boosting Toyota's stake to 16.61 percent. Toyota, the world's largest automaker by sales, currently holds a 9.5 percent stake in Fuji Heavy, making it the company's top shareholder. The strengthened ties between Toyota and Fuji Heavy come as a number of major automakers are looking to strike partnerships to offset ...

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