eneral Motors will sell the 20 per cent it holds in Subaru's Japanese parent, Fuji Heavy Industries, ending an alliance that started in 2000. GM said it would sell 68 million of the 157 million Fuji shares it owns to Toyota Motor Corp. for $315 million (Rs 1,418 crore). The rest of GM's shares (89 million) will be offered for sale in Fuji's open-market buy-back programme.

GM, which posted a combined net loss of $1.1 billion (Rs 4,950 crore) in the first half of 2005, said that it will work with its other strategic partners as it refocuses its business in Asia Pacific's high-growth markets.... more