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Old 10-05-2005, 08:57 PM   #1
mng
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Join Date: Feb 2005
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2002 WRX wagon

Default GM Selling Off Subaru Stake; Saab 9-6X Dumped

Just fyi.....this is from The Car Connection:

General Motors said this morning that it will sell off its 20-percent stake in Fuji Heavy Industries, the parent company of Subaru. GM took a 20-percent stake in Fuji in 2000 and since then, has tried to leverage the resources of the company to help along some of its own car brands, particularly Saab. (Saab's 9-2X is a rebadged version of the Subaru WRX.) But other vehicle collaborations never made it off the drawing boards, and as a result, GM will sell off its stake in pieces. Toyota will take 8.7 percent of the existing GM shares, according to a release, with the remainder to be sold off to other investors. GM will net about $315 million for the sale to Toyota. GM adds that with the dissolution of the joint venture, it will focus on high-growth markets in Asia, presumably China. While the existing Saab 9-2X will continue for an undetermined time, GM says that the future crossover planned for Saab based on the Subaru B9 Tribeca has been cancelled. GM is expected instead to spin off a new Saab crossover from a planned Opel model derived from the concept Antara GTC.
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Old 10-06-2005, 08:47 AM   #2
brizey
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2007 Acura RDX w/Tech CBP

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Already another thread.
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Old 10-06-2005, 09:06 AM   #3
mng
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Default

Quote:
Originally Posted by brizey
Already another thread.
i looked, didn't see it. sorry for the repost
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Old 10-06-2005, 09:26 AM   #4
brizey
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Chapter/Region: TXIC
Location: Dallas Metro
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2004 Forester XT PSM
2007 Acura RDX w/Tech CBP

Default

'sokay

someone is probably going to spank me for my ennis thread, cause i didn't search
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