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The former parent of Yamaha Motor, musical instrument maker Yamaha Corporation, is in the process of reducing its 12.22% residual shareholding in the motorcycle manufacturer. BDN financial editor Roger Willis reports.

Yamaha Corporation has announced that it is selling eight million Yamaha Motor shares to various unnamed securities companies, to be either placed privately with large institutional investors or floated on open stock markets. The disposal, worth about £180m, is due to be completed by 4 December.

Although the two businesses separated in 1955, Yamaha Corporation remained Yamaha Motor’s largest shareholder — and will retain that status with a 9.93% stake following this deal. In turn, Yamaha Motor owns 5.5% of Yamaha Corporation’s shares.