Ford Sells Remaining Stake in Mazda

Ford Motor Co. has disposed of its remaining 2.1% stake in Mazda Motor Corp., ending a holding that started with a 25% stake in 1979.

Ford raised its investment to 33.4% of the company in 1996 and used its own managers to lead the company until 2003. It began reducing its stake following the 2008 financial crisis, and the companies later phased out joint production operations in the U.S. and China.

Ford quietly sold its last Mazda shares earlier this year, according to Japanese media reports on Sunday. The two carmakers continue to co-produce pickup trucks in Thailand and engines in China.