Daimler: China's BAIC takes 5% stake
(CercleFinance.com) - Chinese car maker BAIC has acquired a stake of approximately 5% in Daimler, the German auto giant said on Tuesday.
Daimler welcomed the news. "We are very pleased that our long-standing partner BAIC is now a long-term investor in Daimler," it said in a statement.
Daimler and BAIC signed a long-standing strategic partnership in 2003. Since then, the companies have cooperated in the production, research and development, and sale of passenger cars, vans and trucks.
In 2013, Daimler took a stake of 9.5% in BAIC Motor, BAIC's listed subsidiary.
The Daimler shares were up 2.7% this morning in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Daimler welcomed the news. "We are very pleased that our long-standing partner BAIC is now a long-term investor in Daimler," it said in a statement.
Daimler and BAIC signed a long-standing strategic partnership in 2003. Since then, the companies have cooperated in the production, research and development, and sale of passenger cars, vans and trucks.
In 2013, Daimler took a stake of 9.5% in BAIC Motor, BAIC's listed subsidiary.
The Daimler shares were up 2.7% this morning in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.