Ford announced today that it will sell a part of its shares at Mazda. The shares will be bought by Mazda and several of its strategic business partners. As a result, Ford's ownership of Mazda stock will be reduced from 33.4% to just over 13%, but the two companies will continue their strategic partnership.
“The sale of Mazda shares by our partner, Ford, will not result in any change in Mazda’s strategic direction and we will continue to accelerate our product-led brand improvement and cost innovation initiatives,” says Mazda’s Chairman, President and CEO, Hisakazu Imaki. “We will continue our strategic relationship through our ongoing joint ventures with Ford, as well as the sharing of platforms and powertrains."
“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.
