Toyota to boost stake in Subaru maker to nearly 17 pc
Fuji Heavy Industries Ltd. said Friday it plans to sell 61 million shares to Toyota Motor Corp, raising the Japanese auto giant's stake in the maker of Subaru cars to nearly 17 per cent.
By Agencies |
TOKYO: Fuji Heavy Industries Ltd. said Friday it plans to sell 61 million shares to Toyota Motor Corp, raising the Japanese auto giant's stake in the maker of Subaru cars to nearly 17 per cent.
Fuji Heavy said in a statement it will sell shares worth 31.1 billion yen (US$293 million) to Toyota, Japan's largest automaker.
Toyota, already Fuji Heavy's top shareholder, will raise its stake in the company to 16.61 per cent from the current 9.50 per cent. Toyota's payment is expected to be completed by July 14.
Fuji Heavy said in a statement it will sell shares worth 31.1 billion yen (US$293 million) to Toyota, Japan's largest automaker.
Toyota, already Fuji Heavy's top shareholder, will raise its stake in the company to 16.61 per cent from the current 9.50 per cent. Toyota's payment is expected to be completed by July 14.
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