by Adrian Dorofte and Adrian Andronic
Showing posts with label stake. Show all posts

Daimler AG to invest in BAIC Motor for a twelve percent stake

Daimler AG and Beijing Automotive Group (BAIC) will significantly deepen their already strong strategic partnership: according to a binding agreement signed 1st February 2013 between executives of the two companies, Daimler AG is going to invest in BAIC Motor, the passenger car unit of BAIC Group, one of the leading automotive companies in China. This important joint strategic move comes ahead of an intention by BAIC Motor to launch an initial public offering (IPO) in the future. Daimler’s investment will take place through the issuance of new shares corresponding to a twelve percent stake in BAIC Motor.