Daimler-BAIC sign JV deal
By Li Fangfang | China Daily | Updated: 2013-11-20 07:05
German motor company to acquire 12 percent stake in Chinese partner
German vehicle manufacturer Daimler AG said Tuesday it had finalized its deal to acquire a 12 percent stake in its Chinese partner, BAIC Motor, the passenger car unit of Beijing Automotive Group.
In so doing, Daimler becomes the first foreign automaker to have a significant equity position in a Chinese company.
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