10-06-2005, 03:29 PM
<!--QuoteBegin-Bern+05.10.2005 à 18:55--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Bern @ 05.10.2005 à 18:55)</td></tr><tr><td id='QUOTE'><!--QuoteEBegin--> Quelques precisions sur la vente des parts de GM dans Fuji-Heavy (Subaru) a Toyota.
<!--QuoteBegin--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE </td></tr><tr><td id='QUOTE'><!--QuoteEBegin-->TOKYO, Japan (Reuters) -- Fuji Heavy Industries said on Wednesday it will dissolve its alliance with General Motors and that Toyota Motor Corp. will buy an 8.7 percent stake in the Subaru maker from the struggling U.S. car giant.
Toyota will buy 68 million shares for 520 yen, or $4.60, a share for a total consideration of $315 million.
GM intends to sell the remaining 11.4 percent, or 89 million shares, into Fuji's open-market buyback program or if necessary through market sales.
GM said any cash proceeds and potential gain from the sale of its 20 percent stake will be recorded in the fourth quarter.
It said it has restated its second-quarter financial statements to reflect a $700 million to $800 million reduction in the carrying value of its equity stake in Fuji Heavy.
Fuji Heavy said it will end a joint-development project with GM's Saab brand.
The Japanese firm also said it and Toyota would study business tie-up opportunities in research and development as well as production.
Earlier reports from Japanese national broadcaster NHK and business daily Nihon Keizai Shimbun said Toyota would buy 10 percent of GM's 20 percent stake.
Dogged by huge pension and health-care liabilities, as well as sliding U.S. sales, GM has to been struggling to repair its operations and balance sheet amid cut-throat competition in the auto sector.
The U.S. auto maker could use the cash as financing becomes more expensive following the downgrade of its debt to junk status this year by three top ratings agencies.
GM bought its stake in Fuji Heavy, which is known for its edge in all-wheel-drive technology, in December 1999, but analysts have recently questioned the value of that alliance as Subaru battles its own drop in sales.
Fuji Heavy recently began building a Saab model on an original equipment manufacturing (OEM) basis for GM, but their cooperation beyond that is limited to some joint parts procurement and collaboration on research and development.
GM also owns one-fifth of Japanese minivehicle maker Suzuki Motor Corp. and about 8 percent of truck maker Isuzu Motors Ltd.
Toyota has capital alliances with Japanese minivehicle maker Daihatsu Motor Co. and truck maker Hino Motors Ltd., which are both majority-owned.<!--QuoteEnd--></td></tr></table><div class='postcolor'><!--QuoteEEnd-->
Ca devrait donc en etre fini de la Saab 9-2 basee sur la Impreza WRX <!--QuoteEnd--> </td></tr></table><div class='postcolor'> <!--QuoteEEnd-->
Le projet 9-2 a été arrêté il y a trois mois.
<!--QuoteBegin--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE </td></tr><tr><td id='QUOTE'><!--QuoteEBegin-->TOKYO, Japan (Reuters) -- Fuji Heavy Industries said on Wednesday it will dissolve its alliance with General Motors and that Toyota Motor Corp. will buy an 8.7 percent stake in the Subaru maker from the struggling U.S. car giant.
Toyota will buy 68 million shares for 520 yen, or $4.60, a share for a total consideration of $315 million.
GM intends to sell the remaining 11.4 percent, or 89 million shares, into Fuji's open-market buyback program or if necessary through market sales.
GM said any cash proceeds and potential gain from the sale of its 20 percent stake will be recorded in the fourth quarter.
It said it has restated its second-quarter financial statements to reflect a $700 million to $800 million reduction in the carrying value of its equity stake in Fuji Heavy.
Fuji Heavy said it will end a joint-development project with GM's Saab brand.
The Japanese firm also said it and Toyota would study business tie-up opportunities in research and development as well as production.
Earlier reports from Japanese national broadcaster NHK and business daily Nihon Keizai Shimbun said Toyota would buy 10 percent of GM's 20 percent stake.
Dogged by huge pension and health-care liabilities, as well as sliding U.S. sales, GM has to been struggling to repair its operations and balance sheet amid cut-throat competition in the auto sector.
The U.S. auto maker could use the cash as financing becomes more expensive following the downgrade of its debt to junk status this year by three top ratings agencies.
GM bought its stake in Fuji Heavy, which is known for its edge in all-wheel-drive technology, in December 1999, but analysts have recently questioned the value of that alliance as Subaru battles its own drop in sales.
Fuji Heavy recently began building a Saab model on an original equipment manufacturing (OEM) basis for GM, but their cooperation beyond that is limited to some joint parts procurement and collaboration on research and development.
GM also owns one-fifth of Japanese minivehicle maker Suzuki Motor Corp. and about 8 percent of truck maker Isuzu Motors Ltd.
Toyota has capital alliances with Japanese minivehicle maker Daihatsu Motor Co. and truck maker Hino Motors Ltd., which are both majority-owned.<!--QuoteEnd--></td></tr></table><div class='postcolor'><!--QuoteEEnd-->
Ca devrait donc en etre fini de la Saab 9-2 basee sur la Impreza WRX <!--QuoteEnd--> </td></tr></table><div class='postcolor'> <!--QuoteEEnd-->
Le projet 9-2 a été arrêté il y a trois mois.
Avec ma Sub' je tape les 8500 trs tous les jours!
