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Daily Digital News | Exclusive China's BAIC seeks to buy 5 percent Daimler stake | Automotive Industry | Mercedes-benz | Car Manufacturers | China’s Baic Group | 23 Aug 2019

CHINA'S BAIC SEEKS TO BUY 5 PERCENT DAIMLER STAKE

EXCLUSIVE CHINA'S BAIC SEEKS TO BUY 5 PERCENT DAIMLER STAKE

BAIC HAS ASKED LOCAL AUTHORITIES IN BEIJING TO SUPPORT A 4-5 PERCENT STAKE PURCHASE, TWO OF THESE SOURCES SAID.

BAIC informed Daimler of its intention to buy a 4-5 percent stake in the German maker of Mercedes-Benz cars earlier this year, two of the three sources said.
BAIC has started acquiring Daimler shares on the open market, one source said.
Daimler has also reassured BAIC that any new industrial alliances involving Mercedes and a Chinese partner would only happen after a consensus is found with BAIC.

BEIJING/FRANKFURT (Reuters) - China’s BAIC Group is seeking to buy a stake of up to 5 percent in Daimler as a way to secure its investment in Chinese Mercedes-Benz manufacturing company Beijing Benz Automotive, three...

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Article ID: 296744 Date: 11th May, 2019 Social Shares: 573
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