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Daimler gets 12% of BAIC Motor
Aggregated Source: Shanghai Daily: Business

A row of new Mercedes-Benz cars are seen on the assembly line in the central Hungarian town of Kecskemet. German luxury automaker Daimler AG yesterday said it will pay 640 million euros (US$875 million) for 12 percent of BAIC Motor, a unit of Beijing Automotive Industries Corp, with which it makes Mercedes-Benz cars in China - the world's biggest auto market. Daimler said the investment was to prepare for a possible initial public stock offering by BAIC Motor.

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Copyright Shanghai Daily: Business