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Last Updated: Wednesday, 5 October 2005, 12:12 GMT 13:12 UK
Toyota buying GM's Subaru stake
Subaru Impreza
Toyota is now Fuji's majority owner
Toyota has agreed to buy the 8.7% stake owned by General Motors in Fuji Heavy Industries, the owner of Subaru.

The 35.4bn yen ($310.5m; 176m) deal will make Toyota the biggest single shareholder in Fuji.

General Motors wants to exit completely from Fuji, and plans to sell its remaining 11.4% stake on the market.

Toyota and Fuji will now work to reach agreement on future collaboration, the two Japanese firms said. Toyota also has shares in Daihatsu.

In addition, it owns a stake in truck firm Hino Motors.

The latest US car sales figures showed that GM saw a drop of 24% in September, while Toyota enjoyed a 10% rise.

Toyota has recently said that it lacks the small models needed for expansion in emerging markets like China and India.


SEE ALSO:
Toyota and BMW shock profits drop
03 Aug 05 |  Business
GM and Ford slash vehicle prices
02 Aug 05 |  Business
GM sees record car sales in China
06 Jul 05 |  Business
Toyota 'plans price rise gesture'
10 Jun 05 |  Business
Exports drive Toyota profit ahead
10 May 05 |  Business


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