Ford Motor Company announced it will change its stake in Mazda Motor Corporation to 3.5 percent from 11 percent. The transaction is expected to be completed Friday.
Ford said the decision to reduce its ownership stake in Mazda allows it to increase flexibility as it continues to pursue growth in key emerging markets.
Ford said it plans to remain one of Mazda's largest shareholders and remains committed to its strategic partnership with Mazda, which spans more than 30 years.
Ford and Mazda will continue to cooperate in areas of mutual benefits such as key joint ventures and exchange of technology information, Ford said.