Toyota Buys Stake in Maker of Subaru, Fuji Heavy Industries, From General Motors
Yuri Kageyama writing for the AP reported that Toyota has agreed to buy an 8.7 percent stake in Japanese automaker Fuji Heavy Industries from General Motors Corp., officials from both companies said Wednesday, in a deal that will make Toyota the top shareholder in the company that makes Subaru cars. GM and Fuji agreed to dissolve their alliance and capital relationship, said Toyota executive vice president Mitsuo Kinoshita and Fuji Heavy President Kyoji Takenaka at a joint news conference. GM will sell its remaining 11.4 percent stake in Fuji in the market. Toyota Motor Corp. and Fuji are setting up a steering committee to try to reach an agreement on future collaboration as soon as possible, the companies said. Toyota has been on a roll...
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