April 11, 2006
GM has reached a deal to offload its stake in Japan’s Isuzu Motors Ltd. The 7.9-percent stake ill be sold to a trio of Japanese banks holding a keen interest in Isuzu’s future, including Mitsubishi Corp., Itochu Corp. and Mizuho Corporate Bank. The sale should net GM about $300 million. GM, which has held a stake in Isuzu since 1971, once held 49 percent of the Japanese automaker. The companies will continue to collaborate on diesels and commercial vehicles.
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