Printer Friendly

LEAD: Goldman Sachs' sales of M'bishi Motors shares reported.

TOKYO, Nov. 14 Kyodo


Mitsubishi Motors Corp. said Monday that a Goldman Sachs group company has sold a large amount of stock in the Japanese automaker and is no longer its biggest shareholder.

London-based Goldman Sachs International Ltd. has sold 548,152,000 shares, reducing its interest in the carmaker from 13.45 percent to 1.04 percent and falling to seventh on the list of its biggest shareholders, Mitsubishi Motors said.

The value of the deal and buyers of the stock were not disclosed. But Goldman Sachs is believed to have sold the shares to a number of institutional investors in Japan and abroad in small lots since Mitsubishi Motors reported no other change in the major shareholders' list.

The stock transaction will have no impact on the carmaker's rehabilitation plan led by Mitsubishi Heavy Industries Ltd. and other Mitsubishi group firms, company officials said.

On Friday, Mitsubishi Motors announced that DaimlerChrysler AG of Germany had sold its entire 12.42 percent stake to Goldman Sachs and terminated its five-year capital tie-up with the Japanese firm. But sources close to the matter said at the time that Goldman Sachs immediately sold the Mitsubishi Motors shares to overseas institutional investors.

The U.S. investment bank informed Mitsubishi Motors on Monday of the transaction.
COPYRIGHT 2005 Kyodo News International, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Japan Transportation Scan
Geographic Code:9JAPA
Date:Nov 14, 2005
Previous Article:Bicycles, other items thrown from overpass in Shizuoka.
Next Article:Toyota unveils restyled RAV4 compact SUV.

Related Articles
Kyodo economic news summary -5-.
CORRECTED: 3RD LD: Goldman Sachs to invest in reconstruction of Fujita.
Tesco claims the 'cheapest supermarket' title.
LEAD: Goldman Sachs becomes biggest M'bishi Motors shareholder.
US giant joins the battle to buy airports operator BAA.
Surprise as bank stocks soaring; MARKETS.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |