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Isuzu Motors : Japanese automaker Isuzu buys 57.7pc stake in GM East Africa

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03/01/2017 | 05:44pm CET

A transporter tests a newly acquired truck at the General Motors East Africa showroom in Nakuru. Japanese automaker Isuzu has bought out General Motors' 57.7 per cent stake in General Motors East Africa (GMEA) for an undisclosed sum. PHOTO | FILE Japanese automaker Isuzu Motors Limited has bought out General Motors' 57.7 per cent stake in General Motors East Africa (GMEA) for an undisclosed sum. The transaction will see the motor dealer change its name to Isuzu East Africa in April to reflect the change of control. Most of the dealer's sales are bus, pick-ups and truck brands of the Japanese multinational whose status shifts from a vehicle supplier to an owner. READ: General Motors tops rivals despite plunge in car sales Detroit-based GM will also take away its Chevrolet franchise from GMEA as part of the termination of the alliance between the two automakers. "Isuzu Motors General Motors have reached an agreement that Isuzu will invest in General Motors East Africa. Isuzu is making this investment with the intention of expanding its commercial vehicle production and sales in Eastern Africa," Isuzu said in a statement. Isuzu's partners in GMEA are Centum Investments with a 17.8 per cent stake, ICDC (20 per cent), and Itochu Corporation (4.5 per cent). The deal comes at a time when the dealer has steadily grown its market share in the local new vehicle market to a record 35 per cent last year, with Isuzu brands representing more than 95.6 per cent of the sales. READ: Toyota takes full control of DT Dobie after Sh5.4bn deal

(c) 2017 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 165 443 M
EBIT 2017 10 984 M
Net income 2017 8 790 M
Finance 2017 10 249 M
Yield 2017 4,34%
P/E ratio 2017 6,34
P/E ratio 2018 6,11
EV / Sales 2017 0,27x
EV / Sales 2018 0,27x
Capitalization 55 185 M
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Number of Analysts 21
Average target price 39,0 $
Spread / Average Target 5,7%
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Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Charles K. Stevens Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Patricia Fiorello Russo Independent Director
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