LEAD: Goldman Sachs' sales of M'bishi Motors shares reported.
(EDS: ADDING INFO IN 2ND-4TH GRAFS)
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.
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|Publication:||Japan Transportation Scan|
|Date:||Nov 14, 2005|
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