September 27, 2019 / 1:19 AM / 2 months ago

Toyota to raise its stake in Subaru to over 20% - Nikkei

TOKYO, Sept 27 (Reuters) - Toyota Motor Corp plans to raise its stake in Subaru Corp to more than 20% from around 17% now, expanding their partnership to invest more effectively in new technologies, Nikkei reported on Friday.

The move is seen costing more than 70 billion yen ($650 million) based on Subaru’s stock market value, the Japanese business daily said, without citing sources. Subaru will spend the same amount to buy a stake of less than 1% in Toyota, it said. ($1 = 107.7700 yen) (Reporting by Chris Gallagher; Editing by Muralikumar Anantharaman)

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