Dearborn, Michigan – The Ford Motor Company announced today that it will sell a portion of its stake in Mazda Motor Corporation but that the two companies will continue their strategic relationship that spans nearly 30 years. The ratio of Ford’s ownership of Mazda stock has been reduced from 33.4 percent to just over 13 percent. Ford will remain Mazda’s largest shareholder and will maintain a seat on Mazda’s Board of Directors.
Under the agreement, the divestiture of Ford’s shares in Mazda will be accomplished both through the sale of shares to Mazda and the sale of shares to a group of Mazda’s strategic business partners. The sales of the Mazda shares will net Ford approximately US$540 million.
“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.
“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,” said Mazda 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.”