Fuso Truck Business
Mitsubishi to compensate DaimlerChrysler
AFP, Tokyo
Mitsubishi Motors, the scandal-hit Japanese carmaker, has agreed to pay compensation worth some billion yen (762 million dollars) to DaimlerChrysler for losses on its investment in the Mitsubishi Fuso truck business, a report said Wednesday. The deal will involve Mitsubishi Motors transferring its 20 percent stake in Mitsubishi Fuso Truck and Bus Corp. to DaimlerChrysler and offering it a cash settlement of 20-30 billion yen, the Financial Times said. DaimlerChrysler and Mitsubishi Motors will announce the deal on Thursday, the newspaper added. A Mitsubishi Motor spokesman declined comment on the report but confirmed a compensation deal would be finalized soon. Mitsubishi Motors said last month it would make a cash payment and transfer its remaining 20 percent stake in its affiliate Mitsubishi Fuso to the German-US auto giant.
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