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M'bishi Motors Completes Dutch Plant Sale For 1 Euro

Mon, 12/17/2012 - 2:09pm
The Associated Press

TOKYO, Dec. 17 (Kyodo) — Mitsubishi Motors Corp. said Monday that it has completed the sale of its wholly owned subsidiary that operates a plant in the Netherlands to the country's VD Leegte Beheer B.V. for one euro, in line with an agreement reached in July.

The sale of Netherlands Car B.V. results in a one-off loss of some 25.1 billion yen, according to the Japanese automaker.

The plant ceased production of Mitsubishi cars in November, and will manufacture vehicles for BMW AG.

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