Toyota is in advanced talks to sell its car and truck business to an investment firm led by investment bank Goldman Sachs, the company said Thursday.
The deal would make the Japanese automaker one of the world’s largest buyers of vehicles, including those built by Toyota and its partners.
Toyota said in a statement it has been in discussions with Goldman Sachs about the sale.
The Japanese automakers sales, sales and marketing organization has been negotiating with Goldman since January, Toyota said.
The sale of the car business is one of a number of deals that Toyota has done over the past several years that have given it greater control over its business and made it more attractive to investors.
The automaker said it had $30 billion in cash at the end of the third quarter, which was up 13% from the third-quarter of 2016.