China's BAIC Buys 5% of Daimler
Xu Wei
/SOURCE : yicai
China's BAIC Buys 5% of Daimler

(Yicai Global) July 23 -- Beijing-based carmaker BAIC Group has taken a 5 percent stake in Stuttgart, Germany-headquartered auto producer Daimler to cement their long-term cooperation, the Chinese firm announced today.

The deal gives it a 2.48 percent direct holding and voting rights equal to 2.52 percent of shares.

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Keywords: BAIC Group , Daimler