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Toyota Confirms it Will Buy Rest of Daihatsu

Deal worth about $3 billion.

by on Jan.29, 2016

The Daihatsu Noridri concept first shown at the Tokyo Motor Show last year.

Confirming earlier reports out of Japan, Toyota says it plans to buy out the remaining 48.8% of microcar maker Daihatsu that it does not already control.

The deal, which will strengthen Toyota’s hand in the minicar market in both Japan and emerging markets, will involve a stock swap worth about $3 billion. The takeover is expected to be completed by late July.

Global News!

“We see this as the perfect opportunity to cement our relationship with Toyota, and, by doing so, to embark on a new period of growth, and to elevate the Daihatsu brand to a global standard,” Daihatsu said in a statement announcing the deal.

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