Key Developments: Isuzu Motors Ltd (ISUZY.PK)
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Latest Key Developments (Source: Significant Developments)
ISUZU MOTORS LTD to Issue Year-end Dividend for FY 2013
ISUZU MOTORS LTD announced that it has decided to issue a year-end dividend payment of JPY 6 per share (JPY 10,168 million in total), above its latest dividend forecast of JPY 4 per share announced on February 8, 2013, to all its shareholders as a record of March 31, 2013. The dividend will be paid on June 28, 2013. Full Article
ISUZU MOTORS LTD Announces Change of Subsidiary
ISUZU MOTORS LTD announced that its subsidiary, I Metal Technology Co Ltd has decided to form a holding company, with ISUZU MOTORS's affiliated company, TDF Corporation and Jidosha Buhin Kogyo Co Ltd, effective October 1, 2013. As a result, the holding company will become a subsidiary of ISUZU MOTORS. Full Article
ISUZU MOTORS LTD To Finalise Indian Manufacturing Unit Plans Soon-The Economic Times
The Economic Times reported that ISUZU MOTORS LTD will soon finalise plans to set up a manufacturing plant in India as it gears up to enter the country with light commercial vehicles and sports utility vehicles. The Company is focusing on South India for the plant, which could have a minimum capacity of one lakh units per annum. It is launching sports utility vehicle SUV MU7, priced at INR23.75 lakh (INR2.375 million) and two pick-up trucks from the D-Max range priced at INR6.87 lakh (INR0.687 million) and INR8.09 lakh (INR0.809 million). Full Article
ISUZU MOTORS LTD Agrees on Joint Development of Next-generation Pickup Truck with General Motors Corporation
ISUZU MOTORS LTD announced that it has agreed to launch a joint development plan for next-generation pickup truck with General Motors Corporation. Full Article
ISUZU MOTORS LTD to Issue Mid-year Dividend for FY 2013
ISUZU MOTORS LTD announced that it has decided to issue a mid-year dividend of JPY 4 per share, in line with the latest dividend forecast disclosed on May 10, 2012, to all the shareholders of record as of September 30, 2012, effective November 29, 2012. Full Article
R&I Upgrades Rating on Isuzu Motors Limited from "BBB+" to "A-"
Rating and Investment Information, Inc. (R&I) announced that it has upgraded the rating on Isuzu Motors Limited from "BBB+" to "A-". The rating outlook is stable. Full Article
Isuzu Motors Limited Plans INR1,000 Crore (INR10 Billion) Plant In India-Economic Times
The Economic Times reported that Isuzu Motors Limited is planning a greenfield facility in India, which may entail an investment of over INR1,000 crore (INR10 billion). The proposed facility is expected to have a capacity of 100,000 to 120,000 units and is likely to come up by 2014-2015. Full Article
Isuzu Motors Limited to Establish Joint Venture
Isuzu Motors Limited announced that it has decided to established a joint venture with a China-based company, in August 2012. The joint venture will be engaged in manufacturing of engine parts, as well as sales of automobile and engine parts. The Company and the China-based company will hold 51.0% and 49.0% stakes in the joint venture. Full Article
General Motors Co Proposed Taking Over One-Third Of Isuzu Motors Limited-Reuters
Reuters reported that General Motors Co first proposed taking a controlling stake of more than one-third in Isuzu Motors Limited - an investment worth some $3 billion - but is now seeking a smaller holding after the Japanese truck maker said it wanted to remain independent, a person with direct knowledge of the talks said. General Motors Co at one point owned as much as 49% in Isuzu before selling the holding down, disappointed with red ink spilled by Isuzu at the time and later strapped for cash of its own. Its last remaining 7.9% stake was sold in 2006 for $300 million. Full Article
SUMITOMO CORP Announces Business and Capital Alliance of Subsidiary and Isuzu Motors Limited
SUMITOMO CORP announced that its subsidiary, SML Isuzu Limited, which engages in the manufacture and sale of commercial automobiles, will form a business and capital alliance with Isuzu Motors Limited. Through the business alliance, SML Isuzu and Isuzu Motors will work together on the manufacture of automobiles in India. Through the capital alliance, SUMITOMO will sell 1,591,881 shares of SML Isuzu to Isuzu Motors during the period from February, 2012 to March 2012. After the selling, SUMITOMO will hold a 43.96% stake in SML Isuzu, down from 54.96%, while Isuzu Motors will hold a 15% stake in SML Isuzu, up from 4%. Full Article
EU mergers and takeovers (March 21)
BRUSSELS, March 21 - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
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