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GM Considers Sale of Commercial Truck Unit to Isuzu
Company Online Stock Trading By Randy Chen
. (AXcess News) General Motors Corp. ( GM) General Motors Australia Ltd.commercial truck unit to Isuzu Motors Ltd. ( 7202), the Japanese auto manufacturer said on Monday, pushing its shares up 5 percent on the Tokyo stock exchange. GM already owns 8 percent of Isuzu, so the terms of the deal will most likely not include any more Isuzu stock.
Online Trading Stock And (AXcess News)Tokyo - General Motors Corp. (NYSE: GM) is discussing the sale of its 40 percent stake in Isuzu-General Motors Australia Ltd.commercial truck unit to Isuzu Motors Ltd. (Tokyo: 7202), the Japanese auto manufacturer said on Monday, pushing its shares up 5 percent on the Tokyo stock exchange.
Isuzu had already announced plans to invest up to 30 billion Yen in foreign reorganization plans over the next the three years. So its talks to buy GM's Australian truck unit was not a big deal, though investors applauded its plans after knowing that Isuzu expected domestic sales to slow.
Stock Investing Course GM already owns 8 percent of Isuzu,so the terms of the deal will most likely not include any more Isuzu stock.
Isuzu also plans to take a majority stake in a new truck unit in South Africa to be spun off from a GM subsidiary, according to a story in the Nihon Keizai newspaper. General Motors Tokyo office would not comment on the deal with Isuzu, though a sale would not be the first to a Japanese auto maker. GM had sold its stake in Fuji Heavy Industries Ltd. ( 7270) to Toyota Motor Corp. ( 7203) earlier this month.
Stock System Trading Isuzu had already announced plans to invest up to 30 billion Yen in foreign reorganization plans over the next the three years. So its talks to buy GM's Australian truck unit was not a big deal, though investors applauded its plans after knowing that Isuzu expected domestic sales to slow.
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Stock Investing Game Isuzu also plans to take a majority stake in a new truck unit in South Africa to be spun off from a GM subsidiary, according to a story in the Nihon Keizai newspaper.
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Market Stock Trading General Motors Tokyo office would not comment on the deal with Isuzu, though a sale would not be the first to a Japanese auto maker. GM had sold its stake in Fuji Heavy Industries Ltd. (Tokyo:7270) to Toyota Motor Corp. (Tokyo: 7203) earlier this month.
Online Stock Trading Canada General Motors has been bleeding red ink due to shrinking sales of its SUVs and is strapped for cash badly. GM, which lost more than $1.4 billion in the first half of the year, last week posted a third-quarter loss of $1.6 billion, or $2.89 a share.
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