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Article: PLUS BUSINESS
- Article from:
- Chicago Sun-Times
- Article date:
- March 27, 1992
CopyrightCopyright 1992 Chicago Sun-Times. (Hide copyright information)
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CHRYSLER SLASHES STAKE: Chrysler Corp. has nearly cut in half its
stake in Mitsubishi Motors Corp., from 11 percent to about 5.88
percent, by selling shares to Japanese and European institutional
investors, Mitsubishi said today. A Mitsubishi senior official put
the value of the sale of the 43.6 million shares at roughly 27.5
billion yen, or $205 million. The sale leaves Chrysler, a long-time
investor in and partner with the Japanese carmaker, with 50.25
million of Mitsubishi's 853.9 million shares, Mitsubishi said in a
statement. It said the sale was intended to strengthen Chrysler's
financial position and raise funds for investment and did not reflect
a change in the partnership between ...