GM plans to sell equity stake in Suzuki
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GM announced today it would sell its remaining equity stake in Suzuki Motor Corp. but based on a mutual agreement would continue the implementation and expansion of its business relationships with the company.
GM plans to sell 16,413,000 Suzuki shares, which is equal to 3 percent of Suzuki’s total issued common stock, on the open market. Based on today’s market price, the shares are worth approximately $230 million. Is GM really that desperate? $230 million will not help them much considering they are looking for billions in government aid.
Kizashi is an upcoming mid size car from Suzuki. It will be the late successor to the GM Daewoo built Suzuki Verona. Its engine options will most likely be a 2.5-liter 4-cylinder witg front wheel drive and a 3.6-liter V6 that produces around 260 hp and puts the power to the road via AWD.
The Paris International Motor Show (Mondial de l’Automobile), to be held from 2-19 October 2008, is the venue for Suzuki Motor Corporation to exhibit an array of exciting new models and concept cars.
