Date:18/11/2008 URL: http://www.thehindu.com/2008/11/18/stories/2008111856221600.htm

Business

GM to sell stake in Suzuki to raise cash

TOKYO: General Motors Corp., a struggling U.S. automaker, will sell its entire stake in Suzuki Motor Corp. for 22.37 billion yen ($230 million) to raise cash, the Japanese company said on Monday. Suzuki said it would buy back a 3.02 per cent stake from the American auto giant, which is seeking a $25-billion government lifeline, together with Ford Motor and Chrysler.