GM to Sell Entire Stake in Suzuki to Raise Cash

[BuddyP]

http://www.foxnews.com/story/0,2933,452990,00.html

[balthazar]

CluelessNN initial reported that Suzuki was going to sell off it's GM stock, 'further putting pressure on the troubled automaker'. Now I'm confused... :wink:

[CARBIZ]

$230 MILLION? Well, that will pay for about 20 minutes of what GM is losing these days....

[Cremazie]

^ That may not even cover the lawyer's fees!

Edited November 17, 2008 by Cremazie

[smk4565]

$230 million should buy them 4 more days.

[daves87rs]

I thought they already sold them off....not sure it is going to help though....

[Brougham-Holiday]

Is this the first step in a major downsizing? $230million in cash is better then $230million in further losses however you look at it.

[Chicagoland]

Maybe sell Daewoo to South Korea? They already own Hyundai-Kia.

[MyerShift]

Well, I am rather sure that this won't hurt GM in the least considering that they don't have anything from Suzuki to sell, and Suzuki only has their XL-7 and the 3.6L engine from the deal, so as long as it helps GM, why not!

[VenSeattle]

Suzuki still has an investment in GM-Daewoo. I wonder how this impacts that relationship agreement. GM needs GM-Daewoo for its future lineup of sub-compacts & compacts.