Friday, 07 May 2021 06:46 GMT

Toyota to buy Daihatsu shares for USD 3bn

( MENAFN ) Toyota Motor, the world's major carmaker, will buy the remaining of mini car unit Daihatsu Motor Co. with USD 3bn.

Moreover, part of its plan is to enlarge its push into compact cars for emerging markets, and aims to improve Daihatsu into a global brand.

Acquiring whole control of Daihatsu, of which Toyota recently owns 51.2 percent, will permit it to influence the lower-cost brand and enable Daihatsu to adopt technologies.

Additionally, Toyota will acquire the remaining Daihatsu shares by moving 0.26 of its own shares for each Daihatsu share.

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