Ford is selling part of its stake in Mazda Motor Corporation in a bid to help itself raise funds for "product-led-transformation".
At a time when trying to raise finance is like trying to raise Sarah Palin as a US Presidential candidate for 2012, Ford and Mazda have found a way to help Ford source money for its own growth. In a strategic move, Ford Motor Company will sell part of its shareholding in Mazda Motor Corporation, reducing current holdings from 33.4 percent to just over 13 percent.
"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.
Ford and Mazda have been in partnership for over 30 years, and will continue to work together on sharing platforms and powertrains going forward. The stake in Mazda is being bought by Mazda itself as well as its strategic business partners.