Toyota, Suzuki Announce Alliance; To Acquire Each Other's Shares - Quick Facts
(RTTNews) - Toyota Motor Corp. (TYT.L, TM) and Suzuki Motor Corp. (SZKMY.PK) have entered into an agreement regarding a capital alliance. The companies plan to establish and promote a long-term partnership to collaborate in new fields, including autonomous driving.
Under the alliance, Toyota plans to acquire 24 million Suzuki shares (4.94% ownership) with a total value of 96 billion yen. Suzuki plans to acquire shares in Toyota equivalent to 48 billion yen.
Toyota Motor Corp. and Suzuki Motor started discussing business partnership in October, 2016.
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