According to Reuters, on November 8th, Germany's Bosch announced that it will sell 5% of its holdings in Japan Denso, worth about US$1.4 billion.
Bosch said that it will sell 46 million shares (about 5% of the total) of its holdings and will receive 1.1 billion euros (about 1.4 billion U.S. dollars) for investment and strategic acquisitions. Bosch and Denso are the world's largest and second largest auto parts suppliers. The number one shareholder of the Denso Motor Corporation is Toyota Motor Corporation, holding 22.5% of the shares, followed by Toyota Industrial Co., and the third largest shareholder is Bosch.
Denso spokesman Shuji Kojima said that this time, Bosch's sale of Denso shares will not change the technical and commercial cooperation between the two parties.
Although there is a competitive relationship between the two, it has signed an agreement to share the powertrain technology, and in the United States established a joint venture subsidiary to manufacture fuel pump components, and another Japanese joint venture subsidiary to produce navigation systems.
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