Suzuki Motor to take 14.9% stake in GM-Daewoo venture

Suzuki Motor to take 14.9% stake in GM-Daewoo venture

HAMAMATSU, Japan - Suzuki Motor Co. Chairman Osamu Suzuki (L) and General Motors Co. Chairman John Smith shake hands at a news conference in Hamamatsu on June 27. Suzuki Motor has agreed to take a 14.9% equity stake in an auto-making joint venture GM will set up with the creditor banks of bankrupt South Korean automaker Daewoo Motor Co. Suzuki, a GM affiliate, said it will pay $89 million for the stake in the Korean venture, GM Daewoo Auto & Technology Co. (GMDAT).

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