The Mitsubishi group and DaimlerChrysler AG of Germany are devising a 300 billion yen rescue package for Mitsubishi Motors Corp.
DaimlerChrysler, Mitsubishi Corp., Mitsubishi Heavy Industries Ltd., Bank of Tokyo-Mitsubishi and other group firms will buy preferred shares to be issued by MMC, sources said Tuesday.
They said the plan centers on a 200 billion yen capital infusion into the struggling automaker. The initial plan called for a 100 billion yen infusion, but the figure was doubled to cover the costs of developing new models, they said.
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