Ford Sells A Portion Of Its Stake In Mazda
11-18-2008 | 03:23 AM
#1
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Ford Sells A Portion Of Its Stake In Mazda
FORD SELLS A PORTION OF ITS STAKE IN MAZDA; TWO COMPANIES WILL CONTINUE STRATEGIC RELATIONSHIP
Ford Motor Company today announced it has entered into an agreement to sell a portion of its stake in Mazda Motor Corp. and that the two companies will continue their successful strategic relationship that spans nearly 30 years.
Ford Motor Company said it will sell a portion of its ownership stake in Mazda Motor Corp., and the two companies will continue their successful strategic relationship. The ratio of Ford’s ownership of Mazda stock has been reduced from 33.4 percent to just over 13 percent.
The action is in line with Ford’s plan to strengthen its balance sheet and ensure it has the resources to fund its product-led transformation plan focusing on the Ford brand worldwide.
Under the new agreement, Ford and Mazda will continue their ongoing joint ventures, as well as the sharing of platforms and powertrains. Ford and Mazda’s nearly 30-year relationship has been and continues to be an effective way to utilize the resources of both organizations and maximize joint synergies.
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.
DEARBORN, Mich., November 18, 2008 – Ford Motor Company today announced it has entered into an agreement to sell a portion of its stake in Mazda Motor Corp. and that the two companies will continue their successful strategic relationship that spans nearly 30 years.
In line with Ford’s plan to strengthen its balance sheet and ensure it has the resources to implement its product-led transformation plan focusing on the Ford brand worldwide, the company said it is reducing its stake in Mazda from 33.4 percent to just over 13 percent.
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 $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. “Ford will continue to focus on the Ford brand worldwide and deliver the products our customers really want and value.”
Ford and Mazda will continue their ongoing joint ventures, as well as the sharing of platforms and powertrains. Ford will remain Mazda’s largest shareholder and will maintain a seat on Mazda’s Board of Directors.
“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.”
From Ford Media...
Ford Motor Company today announced it has entered into an agreement to sell a portion of its stake in Mazda Motor Corp. and that the two companies will continue their successful strategic relationship that spans nearly 30 years.
Ford Motor Company said it will sell a portion of its ownership stake in Mazda Motor Corp., and the two companies will continue their successful strategic relationship. The ratio of Ford’s ownership of Mazda stock has been reduced from 33.4 percent to just over 13 percent.
The action is in line with Ford’s plan to strengthen its balance sheet and ensure it has the resources to fund its product-led transformation plan focusing on the Ford brand worldwide.
Under the new agreement, Ford and Mazda will continue their ongoing joint ventures, as well as the sharing of platforms and powertrains. Ford and Mazda’s nearly 30-year relationship has been and continues to be an effective way to utilize the resources of both organizations and maximize joint synergies.
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.
DEARBORN, Mich., November 18, 2008 – Ford Motor Company today announced it has entered into an agreement to sell a portion of its stake in Mazda Motor Corp. and that the two companies will continue their successful strategic relationship that spans nearly 30 years.
In line with Ford’s plan to strengthen its balance sheet and ensure it has the resources to implement its product-led transformation plan focusing on the Ford brand worldwide, the company said it is reducing its stake in Mazda from 33.4 percent to just over 13 percent.
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 $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. “Ford will continue to focus on the Ford brand worldwide and deliver the products our customers really want and value.”
Ford and Mazda will continue their ongoing joint ventures, as well as the sharing of platforms and powertrains. Ford will remain Mazda’s largest shareholder and will maintain a seat on Mazda’s Board of Directors.
“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.”
From Ford Media...
Last edited by ASH8; 11-18-2008 at 04:48 AM.
11-18-2008 | 04:10 AM
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HIROSHIMA, November 18, 2008—Mazda Motor Corporation (Mazda) has announced today that Mazda and several of its strategic business partners will acquire a part of Ford Motor Company’s (Ford) shares in Mazda through market trading.
As a result, the ratio of Ford’s ownership of Mazda stock will be reduced from 33.4 percent to just over 13 percent, with the new agreement allowing the two companies to continue their strategic relationship that spans nearly 30 years.
“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,” says Mazda’s 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.”
“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’s sale of the Mazda stock will be achieved through Mazda and a group of Mazda’s strategic business partners each buying a portion of the shares.
From Mazda Media...
As a result, the ratio of Ford’s ownership of Mazda stock will be reduced from 33.4 percent to just over 13 percent, with the new agreement allowing the two companies to continue their strategic relationship that spans nearly 30 years.
“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,” says Mazda’s 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.”
“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’s sale of the Mazda stock will be achieved through Mazda and a group of Mazda’s strategic business partners each buying a portion of the shares.
From Mazda Media...
Last edited by ASH8; 11-18-2008 at 04:39 AM.
11-18-2008 | 04:13 AM
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November 18, 2008
To Whom It May Concern:
Mazda Motor Corporation
Representative Director and President: Hisakazu Imaki
TSE Code Number: 7261
Contact: Kazuyuki Mitate
General Manager,
Corporate Communications Div.
TEL. Tokyo (03)3508-5056
Hiroshima (082)282-5253
Announcement of Decision to Conduct an Acquisition of Own Shares
(Under the provisions of Mazda's Articles of Incorporation pursuant to Article 165-2 of the Corporation Law of Japan.)
Mazda Motor Corporation announces that its Board of Directors, at its meeting held on November 18, 2008, decided the necessary matters to conduct an acquisition of its own shares under Article 156 of the Corporation Law of Japan, as applied pursuant to Article 165-3 of the said Corporation Law. The details of the share acquisition are as follows:
1. Reason for the share acquisition
Ford Motor Company who is our major shareholder plans to sell a part of our shares, we plan to purchase them in order to improve the efficiency of its capital, as well as to enable the implementation of flexible capital policies that meet the changes in business environment.
2. Detail of the acquisition
(1) Class of shares to be acquired: Mazda’s common shares
(2) Total number of shares to be acquired: 96,802,000 shares (upper limit)
The ratio to the total number of shares issued: 6.87% (excluding own shares)
(3) Total amount of shares to be acquired: ¥17.9 billion (upper limit)
(4) Method of acquisition: Acquisition on the Tokyo Stock Exchange
(5) Date of acquisition: November 19, 2008
< Reference >
Mazda Motor Corporation holdings of own shares issued as of September 30, 2008:
Numbers of shares already issued (excluding own shares): 1,408,395,543 shares
Numbers of own shares: 10,113,856 shares
From Mazda Media...
To Whom It May Concern:
Mazda Motor Corporation
Representative Director and President: Hisakazu Imaki
TSE Code Number: 7261
Contact: Kazuyuki Mitate
General Manager,
Corporate Communications Div.
TEL. Tokyo (03)3508-5056
Hiroshima (082)282-5253
Announcement of Decision to Conduct an Acquisition of Own Shares
(Under the provisions of Mazda's Articles of Incorporation pursuant to Article 165-2 of the Corporation Law of Japan.)
Mazda Motor Corporation announces that its Board of Directors, at its meeting held on November 18, 2008, decided the necessary matters to conduct an acquisition of its own shares under Article 156 of the Corporation Law of Japan, as applied pursuant to Article 165-3 of the said Corporation Law. The details of the share acquisition are as follows:
1. Reason for the share acquisition
Ford Motor Company who is our major shareholder plans to sell a part of our shares, we plan to purchase them in order to improve the efficiency of its capital, as well as to enable the implementation of flexible capital policies that meet the changes in business environment.
2. Detail of the acquisition
(1) Class of shares to be acquired: Mazda’s common shares
(2) Total number of shares to be acquired: 96,802,000 shares (upper limit)
The ratio to the total number of shares issued: 6.87% (excluding own shares)
(3) Total amount of shares to be acquired: ¥17.9 billion (upper limit)
(4) Method of acquisition: Acquisition on the Tokyo Stock Exchange
(5) Date of acquisition: November 19, 2008
< Reference >
Mazda Motor Corporation holdings of own shares issued as of September 30, 2008:
Numbers of shares already issued (excluding own shares): 1,408,395,543 shares
Numbers of own shares: 10,113,856 shares
From Mazda Media...
Last edited by ASH8; 11-18-2008 at 04:39 AM.
11-18-2008 | 04:17 AM
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From: Australia
November 18, 2008
To Whom It May Concern:
Mazda Motor Corporation
Representative Director and President: Hisakazu Imaki
TSE Code Number: 7261
Contact: Kazuyuki Mitate
General Manager,
Corporate Communications Div.
TEL. Tokyo (03)3508-5056
Hiroshima (082)282-5253
Announcement of Acquisition of Own Shares through ToSTNeT-3 off-hours Trading System.
Mazda Motor Corporation announces that it has decided to conduct an acquisition of its own shares under Article 156 of the Corporation Law of Japan, as applied pursuant to Article 165-3 of the said Corporation Law. The details of the share acquisition are as follows:
1. Method of acquisition
We will instruct its agent to purchase its own shares on the Tokyo Stock Exchange in off-hours trading (through the ToSTNeT-3 trading system) at 8:45 a.m. on November 19, 2008, at today’s (Nov. 18) closing price of ¥184 per share. (Transactions shall not be conducted by any other system nor at another time.)
Bids to acquire shares will be restricted to the specified transaction period.
2. Detail of the acquisition
(1) Class of shares to be acquired: Mazda’s common shares
(2) Total number of shares to be acquired: 96,802,000 shares
Notes:
(a) The number of shares will not be changed. Please note that depending on market trends and other factors, there is a possibility that a portion of the
acquisition or entire acquisition may be cancelled.
(b) The scheduled number of shares will be acquired in response to corresponding
offers to sell.
3. Announcement of the results
The acquisition results will be announced after the completion of the time specified for trading at 8:45 a.m. on Nov. 19, 2008.
<Reference>
Content of the Board of Director’s decisions regarding the acquisition of the company’s own shares:
① Class of shares to be acquired: Mazda’s common shares
② Total number of shares to be acquired: 96,802,000 shares (upper limit)
③ Total amount of shares to be acquired: ¥17.9 billion (upper limit)
④ Date of acquisition: Nov. 19, 2008
From Mazda Media...
To Whom It May Concern:
Mazda Motor Corporation
Representative Director and President: Hisakazu Imaki
TSE Code Number: 7261
Contact: Kazuyuki Mitate
General Manager,
Corporate Communications Div.
TEL. Tokyo (03)3508-5056
Hiroshima (082)282-5253
Announcement of Acquisition of Own Shares through ToSTNeT-3 off-hours Trading System.
Mazda Motor Corporation announces that it has decided to conduct an acquisition of its own shares under Article 156 of the Corporation Law of Japan, as applied pursuant to Article 165-3 of the said Corporation Law. The details of the share acquisition are as follows:
1. Method of acquisition
We will instruct its agent to purchase its own shares on the Tokyo Stock Exchange in off-hours trading (through the ToSTNeT-3 trading system) at 8:45 a.m. on November 19, 2008, at today’s (Nov. 18) closing price of ¥184 per share. (Transactions shall not be conducted by any other system nor at another time.)
Bids to acquire shares will be restricted to the specified transaction period.
2. Detail of the acquisition
(1) Class of shares to be acquired: Mazda’s common shares
(2) Total number of shares to be acquired: 96,802,000 shares
Notes:
(a) The number of shares will not be changed. Please note that depending on market trends and other factors, there is a possibility that a portion of the
acquisition or entire acquisition may be cancelled.
(b) The scheduled number of shares will be acquired in response to corresponding
offers to sell.
3. Announcement of the results
The acquisition results will be announced after the completion of the time specified for trading at 8:45 a.m. on Nov. 19, 2008.
<Reference>
Content of the Board of Director’s decisions regarding the acquisition of the company’s own shares:
① Class of shares to be acquired: Mazda’s common shares
② Total number of shares to be acquired: 96,802,000 shares (upper limit)
③ Total amount of shares to be acquired: ¥17.9 billion (upper limit)
④ Date of acquisition: Nov. 19, 2008
From Mazda Media...
Last edited by ASH8; 11-18-2008 at 04:39 AM.
11-18-2008 | 04:34 AM
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Well from how I see it FORD gets around $540m US Dollars.
Quite obviously Ford had no other choice, Next will probably be VOLVO.
The Automotive world has changed dramatically, Mazda have been one of the few profitable car makers along with Toyota and Honda.
I think we will see a slow down from Mazda with future models (their press release says differently though) as CASH is going to be harder to borrow, Japan is now in a recession, so is Germany, Next the US and the rest of the world.
I don't think we will see any new Gasoline only rotary engine for some years now if at all. I hope I am wrong!
I think this is the last RX-8 you will see as production is only 9000 a year for the Series II face lift model.
My how things have changed in a few short months...
Tell the people often enough of a crisis and gloom/doom and they will believe it and stop spending.
IMO economists have also underestimated the flow on effect of very high gas prices on the worlds economy.
Quite obviously Ford had no other choice, Next will probably be VOLVO.
The Automotive world has changed dramatically, Mazda have been one of the few profitable car makers along with Toyota and Honda.
I think we will see a slow down from Mazda with future models (their press release says differently though) as CASH is going to be harder to borrow, Japan is now in a recession, so is Germany, Next the US and the rest of the world.
I don't think we will see any new Gasoline only rotary engine for some years now if at all. I hope I am wrong!
I think this is the last RX-8 you will see as production is only 9000 a year for the Series II face lift model.
My how things have changed in a few short months...
Tell the people often enough of a crisis and gloom/doom and they will believe it and stop spending.
IMO economists have also underestimated the flow on effect of very high gas prices on the worlds economy.
Last edited by ASH8; 11-18-2008 at 05:18 AM.
11-18-2008 | 05:02 AM
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Apologies for my posts, these details are coming through as I type..
Board of directors meeting has just finalised details.
Mazda have not wasted anytime, the following Executive officers and Managers have "step down from their positions".. effective November 19th.
David E. Friedman Representative Director, Senior Managing
Executive Officer and CEO In charge of Corporate Planning
Daniel T. Morris, Director and Senior Managing Executive Officer
In charge of Marketing and Overseas Sales
David F. Stickel - General Manager, Product Profit Control Div.
Anthony S. Pastor - Deputy General Manager,Customer Service Div.
New Appointments... effective November 19th
New CEO and President.
Takashi Yamanouchi
New Chairman of the Board
Hisakazu Imaki (formerly President and CEO)
Assistant to CEO and President
Philip G. Spender (appears the only Ford Director on the board)
Board of directors meeting has just finalised details.
Mazda have not wasted anytime, the following Executive officers and Managers have "step down from their positions".. effective November 19th.
David E. Friedman Representative Director, Senior Managing
Executive Officer and CEO In charge of Corporate Planning
Daniel T. Morris, Director and Senior Managing Executive Officer
In charge of Marketing and Overseas Sales
David F. Stickel - General Manager, Product Profit Control Div.
Anthony S. Pastor - Deputy General Manager,Customer Service Div.
New Appointments... effective November 19th
New CEO and President.
Takashi Yamanouchi
New Chairman of the Board
Hisakazu Imaki (formerly President and CEO)
Assistant to CEO and President
Philip G. Spender (appears the only Ford Director on the board)
Last edited by ASH8; 11-18-2008 at 05:09 AM.
11-18-2008 | 05:08 AM
#13
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From: Phoenix
I can't see this influencing the rotary one way or another. Ford and Mazda will continue to share technology and I doubt Ford sold the shares in a manner which would introduce another owner which would have a bigger stake in mazda then they do.
That being said, the rotary's future will depend on market forces and whether or not Mazda thinks people will buy the car. The majority of automotive market problems are with US domestic products while Japanese car companies are still turning a profit.
Only time will tell.
That being said, the rotary's future will depend on market forces and whether or not Mazda thinks people will buy the car. The majority of automotive market problems are with US domestic products while Japanese car companies are still turning a profit.
Only time will tell.
11-18-2008 | 08:49 AM
#14
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What I don’t understand is Ford will only have a 13.4% stake in Mazda but yet somehow maintains control? That’s how the two reports I’ve read indicate. I would think they would still continue their partnership but that Mazda could more or less do what it wants to now.
11-18-2008 | 10:25 AM
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By selling the shares, Ford cedes effective control of Mazda.
Ford looses its training ground for new execs. All of the good guys at Ford now came through Mazda in the last 10 years
11-18-2008 | 10:26 AM
#16
11-18-2008 | 10:35 AM
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http://www.mazda.com/investors/stockinfo/situation.html
there is the list of share holders. I assume Mazda will get the lion share of the 20 that ford sells but still have less than the 13 Ford will retain. The banks will buy the others- probably Mitsui Sumitomo getting most of that
11-18-2008 | 10:40 AM
#19
YaY !
Mazda has the money to buy it back, but Im sure they both still wanna work together, so keeping that 13 percent should be good. They share parts with each other so if they end the shareholder relationship now, not a good thing.
speaking of Volvo, Ford totally fuxked it up and now they make nothing but Garbage just like rest of the Ford. *shurgs*
I wonder who wants Volvo these days.
Mazda has the money to buy it back, but Im sure they both still wanna work together, so keeping that 13 percent should be good. They share parts with each other so if they end the shareholder relationship now, not a good thing.
speaking of Volvo, Ford totally fuxked it up and now they make nothing but Garbage just like rest of the Ford. *shurgs*
I wonder who wants Volvo these days.
11-18-2008 | 12:05 PM
#22
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From: Mineola, TX
These transactions shouldn't hurt any plans for the rotary and if anything it will help. Like ASH8 said, it's the direction the market goes (and current economy) and what Mazda decides that will affect the future of the rotary.
Last edited by JRichter; 11-18-2008 at 12:08 PM.
11-18-2008 | 01:34 PM
#24
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What I don’t understand is Ford will only have a 13.4% stake in Mazda but yet somehow maintains control? That’s how the two reports I’ve read indicate. I would think they would still continue their partnership but that Mazda could more or less do what it wants to now.
11-18-2008 | 01:53 PM
#25
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We are yet to hear what direction he will actually take.