Sayonara DCX: DaimlerChrysler Sells Remaining Stake in Mitsubishi Motors

Posted on November 11, 2005

Ending what turned out to be an ill-fated and expensive alliance, DaimlerChrysler AG has sold its remaining 12.4 percent stake in Mitsubishi Motors Co. (MMC) to Goldman Sachs. The price was not announced. At one time, DaimlerChrysler owned 37 percent of Mitsubishi Motors. Goldman Sachs Group Inc. now becomes Mitsubishi Motors' largest shareholder with a 13.4 percent stake.

Mitsubishi Motors said current cooperation projects between the companies would not be affected by the share sale saying, "MMC will maintain the relationship with DaimlerChrysler as business partners where both parties continue working on individual alliance projects that are mutually beneficial."