Mitsubishi Selling Stake in Fuso?

Dec. 9, 2003
Mitsubishi Motors, the Japanese carmaker which is one-third owned by DaimlerChrysler, is in discussions to sell its entire 42 per cent stake in truckmaker Mitsubishi Fuso for an estimated $933 million, according to reports in Japan Today. The company has declined comment, but it is expected that 22 per cent of Fuso will be sold to DaimlerChrysler and 20 per cent to companies affiliated with the Mitsubishi
Mitsubishi Motors, the Japanese carmaker which is one-third owned by DaimlerChrysler, is in discussions to sell its entire 42 per cent stake in truckmaker Mitsubishi Fuso for an estimated $933 million, according to reports in Japan Today. The company has declined comment, but it is expected that 22 per cent of Fuso will be sold to DaimlerChrysler and 20 per cent to companies affiliated with the Mitsubishi Corporation, the Japanese trading company.

The move is thought to have been spurred by MMC’s attempt to offset huge losses at its U.S. financial division, which has millions of dollars in defaulted loans.

DaimlerChrysler currently owns 43 per cent of Fuso, and if the deal goes through it will have to absorb the truckmaker’s estimated $1.9 billion in debt onto its balance sheet once it acquires the additional 22 per cent stake.

DaimlerChrysler currently is in a legal battle with billionaire financier Kirk Kerkorian over the original terms of its acquisition of Chrysler.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...

Fleet Industry Benchmarks: How does your fleet stack up?

Discover how your fleet compares to industry benchmarks and gain insights from a 2024 Benchmarking Report on maintenance spend, turnaround time, and more. Join us to identify ...

Build a Tolling Program to Manage Toll Fees and Risks

Fleets looking to effectively manage their operational costs should consider their tolling costs. Download the PrePass whitepaper, “Build a Tolling Program to Manage Toll Fees...

Reducing CSA Violations & Increasing Safety With Advanced Trailer Telematics

Keep the roads safer with advanced trailer telematics. In this whitepaper, see how you can gain insights that lead to increased safety and reduced roadside incidents—keeping drivers...