Ford Motor off loads 7.5% stake in Mazda Motor

Although the two companies will continue to cooperate in areas of mutual benefits

Ford Motor has reduced its stake in Mazda Motor from 11% to 3.5%, to increase flexibility as it continues to pursue growth in emerging markets.

Ford and Mazda will continue to cooperate in areas of mutual benefits such as key joint ventures and exchange of technology information and this change in shareholding will not affect Mazda's business direction or financial projections, the company claims.

Mazda president and CEO Takashi Yamanouchi said, Ford will remain one of Mazda's largest shareholders with a 3.5% stake, and both companies are committed to continuing their strategic partnership which spans over 30 years.

"Mazda and Ford will continue to collaborate on areas of mutual benefit such as key joint ventures, joint projects and exchange of technology information," Yamanouchi said.