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Daimler AG Pays $869 Million For 12% Of BAIC Motor-Reuters

Friday, 1 Feb 2013 06:21am EST 

Reuters reported that Daimler AG has bought a stake in Chinese partner BAIC Motor ahead of its planned stock offering. Daimler will pay EUR640 million ($869 million) for a 12% stake in BAIC Motor and get two seats on the board in a deal that is expected to close by the end of 2013 or early 2014, the Company said. 

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-1.36 -2.23%
15 Aug 2014