Fuji Heavy Industries said yesterday it plans to sell 61 million shares to Toyota, raising the Japanese carmaker's stake in the maker of Subaru cars to nearly 17 percent.

Fuji said it would sell shares worth 31.1 billion yen ($US293 million) to Toyota, Japan's largest carmaker.

Toyota, already Fuji's top shareholder, will raise its stake in the company to 16.61 percent from the current 9.50 percent.

Toyota's payment is expected to be completed by July 14.

US carmaker General Motors used... // Drivesouth

U.S. automaker General Motors Corp. once was the top shareholder in Fuji, but sold its entire 20 percent stake in 2005 as part of its efforts to raise cash.

Toyota, challenging GM as the world's biggest automaker, bought an 8.7 percent stake in Fuji for about $315 million to become the top shareholder.

The latest move is symbolic of a global industry shift as cash-rich Toyota takes over what GM has abandoned.

In 2006, Toyota also bought a... // AZ Central.com

TOKYO - Fuji Heavy Industries said today it plans to sell shares worth nearly $300 million to Toyota Motor, boosting the Japanese automaker's stake in the maker of Subaru cars to nearly 17 percent.

Fuji Heavy said in a statement it will sell 61 million shares worth 31.1 billion yen ($293 million) to Toyota, Japan's largest automaker.

Toyota, already Fuji Heavy's top shareholder, will raise its stake in the company to 16.6 percent from the current 9.5 percent. Toyota's payment is expected to be completed by July 14.

U.S. automaker General Motors once was the... // Santa Cruz Sentinel

Fuji Heavy said in a statement it will sell 61 million shares worth 31.1 billion yen ($293 million) to Toyota (nyse: TM - news - people ), Japan's largest automaker.

Toyota, already Fuji Heavy's top shareholder, will raise its stake in the company to 16.6 percent from the current 9.5 percent. Toyota's payment is expected to be completed by July 14.

U.S. automaker General Motors Corp. (nyse: GM - news - people ) once was the top shareholder in Fuji, but sold its entire 20 percent stake in 2005 as part of its efforts to raise cash.

Toyota, challenging GM... // Forbes

TOKYO (AP) - Fuji Heavy Industries Ltd. said Friday it plans to sell 61 million shares to Toyota Motor Corp., raising the Japanese automaker's stake in the maker of Subaru cars to nearly 17 percent.

Fuji Heavy said in a statement it will sell shares worth 31.1 billion yen (US$293 million) to Toyota, Japan's largest automaker.

Toyota, already Fuji Heavy's top shareholder, will raise its stake in the company to 16.61 percent from the current 9.50 percent. Toyota's payment is expected to be completed by July 14.

U.S. automaker General Motors Corp. used to be the... // PR-Inside.com (Pressemitteilung)

Fuji Heavy Industries Ltd. said Friday it plans to sell shares worth nearly $300 million to Toyota Motor Corp., boosting the Japanese automaker's stake in the maker of Subaru cars to nearly 17 percent.

Fuji Heavy said in a statement it will sell 61 million shares worth 31.1 billion yen to Toyota, Japan's largest automaker.

Toyota, already Fuji Heavy's top shareholder, will raise its stake in the company to 16.6 percent from the current 9.5... // BusinessWeek

NEW YORK (Associated Press) - Fuji Heavy Industries Ltd. said Friday it plans to sell shares worth nearly $300 million to Toyota Motor Corp., boosting the Japanese automaker's stake in the maker of Subaru cars to nearly 17 percent.

Fuji Heavy said in a statement it will sell 61 million shares worth 31.1 billion yen to Toyota, Japan's largest automaker.

Toyota, already Fuji Heavy's top shareholder, will raise its stake in the company to 16.6... // CNNMoney.com

Fuji Heavy said in a statement it will sell 61 million shares worth 31.1 billion yen to Toyota (nyse: TM - news - people ), Japan's largest automaker.

Toyota, already Fuji Heavy's top shareholder, will raise its stake in the company to 16.6 percent from the current 9.5 percent. Toyota's payment is expected to be completed by July 14.

Copyright 2008 Associated Press. All rights reserved. This material may not be published broadcast, rewritten,... // Forbes

(Associated Press WorldStream Via Acquire Media NewsEdge) TOKYO_Fuji Heavy Industries Ltd. said Friday it plans to sell 61 million shares to Toyota Motor Corp., raising the Japanese auto giant's stake in the maker of Subaru cars to nearly 17 percent.

Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

[ Back To TMCnet.com's Homepage ] // TMCnet

TOKYO (AP) - Fuji Heavy Industries Ltd. said Friday it plans to sell 61 million shares to Toyota Motor Corp., raising the Japanese auto giant's stake in the maker of Subaru cars to nearly 17 percent.

Fuji Heavy said in a statement it will sell shares worth 31.1 billion yen (US$293 million) to Toyota, Japan's largest automaker.

Toyota, already Fuji Heavy's top shareholder, will raise its stake in the company to 16.61 percent from the current... // PR-Inside.com (Pressemitteilung)