Ford selling more than half of its stake in Mazda

Mazda has announced today that they’ve reached an agreement with Ford, according to which the Japanese company, together with its partners, will buy more than half of Ford’s stake in Mazda. Ford’s ownership will be reduced from 33.4 percent to just over 13 percent, but the two giants announced that their 30 years partnership will continue. Considering Mazda’s stock trading price, the deal is estimated at around $200 million. It’s not much, but going through some rough times, Ford needs all the money it can get, just like GM, who announced a couple of days ago the sell of their stake in Suzuki.

“This agreement allows Ford to raise capital that will help fund our product-led transformation, and at the same time, allows Ford and Mazda to continue our successful strategic relationship in the best interest of both companies,” said Ford President and CEO Alan Mulally.