According to the International Herald Tribune, the offering raises total interest in the company to 16.61% from 9.50%. The sale is expected to be completed by July 14.
Worth $293 million, the shares bring Toyota ever closer towards being the world's largest automaker, and -- in a fitting twist -- FHI used to have a 20% stake controlled by General Motors. In a sign of the times, GM sold its shares years ago and continues to hurt in the current economic climate while rival Toyota continues to expand despite said climate.
Our take? The true interest in this transaction for us enthusiasts is whether or not this solidifies the rumors of a Toyota – Subaru collaboration on a small rear drive coupe.