Mitsubishi Motors Corp. said Monday that a Goldman Sachs group company has sold a large amount of its stock and is no longer the carmaker's biggest shareholder.
London-based Goldman Sachs International Ltd. has sold 548.152 million shares, reducing its interest in the carmaker from 13.45 percent to 1.04 percent and dropping it to seventh on its list of major shareholders, Mitsubishi Motors said.
The value of the deal and the buyers of the stock were not disclosed. But Goldman Sachs is believed to have sold the shares to a number of institutional investors in Japan and abroad in small lots, because Mitsubishi Motors did not report any other change in its major shareholders' list.
The stock transaction will have no impact on the carmaker's rehabilitation plan, which is being led by Mitsubishi Heavy Industries Ltd. and other Mitsubishi group firms, company officials said.