Update: Ford Motor to Inject Up to $4.77 Billion in German Unit
(Updates with Ford's confirmation throughout and the latest stock movement in the fourth paragraph.)
Ford Motor (F) said Monday it will inject up to 4.4 billion euros ($4.77 billion) of new capital and finance a comprehensive business plan for its Ford-Werke unit in Germany.
The new financing will address the "over-borrowing" position of the German subsidiary and provide capital to support the business transformation and enhance "competitiveness," the automaker said.
The company will also end a financial support letter that has been intact since 2006, it said.
F shares were up 1.8% in recent Monday trading.
Price: 10.08, Change: +0.18, Percent Change: +1.79
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