Toyota Motor Corp. will buy out its Daihatsu Motor Co. unit, bringing in-house a key maker of small cars for Southeast Asia and Japan.
The world’s largest automaker will acquire the remainder of its 51 percent-owned affiliate through a stock swap, according to a statement.
Toyota will offer 0.26 shares for each share of Daihatsu in a swap scheduled to take effect Aug. 1.
Media reports said earlier this week that Toyota is also considering a wide-ranging partnership with Suzuki Motor Corp. to meet growing demand for compact cars in emerging markets such as India.
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