Posted inChina

BAIC Group ponders buying 5% stake in Daimler

Chinese automaker BAIC Group is looking at buying a 5% stake in Daimler in an effort to secure its investment in Chinese Mercedes-Benz manufacturing company Beijing Benz Automotive, the Securities Times reported, citing international wires. BAIC would need about US$3.25 billion to complete the proposed acquisition, based on the German carmaker’s latest market capitalization. The […]