Troubled Isuzu Sells Stake for $1
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| Despite an all-new Trooper replacement, the 2003 Ascender, Isuzu is seriously hurting. |
Fuji Heavy Industries Ltd. will pay $1 for Isuzu Motors Ltd.'s 49% holding in Subaru-Isuzu Automotive Inc. The sale, announced in October, will be finalized on January 1st, 2003.
Isuzu will have to shoulder about $489.5 million USD from losses and other expenses incurred as a result of the dissolution.
The name of the Lafayette, Indiana, operation will change to Subaru of Indiana Automotive Inc.