30/01/2013 08:27:00

Daimler, BAIC to Sign Share Swap Deal Friday - Report

Related content

Daimler AG (DAI.XE) will on Friday sign an agreement with Beijing Automotive Group Co., known as BAIC Group, over a share swap deal, the Chinese internet portal Tencent News reported Wednesday.

Under the agreement, Daimler will take a stake of 10%-20% or even higher in BAIC Motor Co., a unit of China's fifth-largest car maker BAIC Group, and BAIC Motor will raise its stake in Beijing Benz Automotive Co., its joint venture with Daimler, to 51% from 50%, the report said.

It is unclear how big a stake BAIC will take in the German luxury auto company, said the report.

Taking a controlling stake in Beijing Benz will help remove a stumbling block for BAIC Motor to go public, as the move will sharply boost its earnings performance, the report added.

A BAIC official said last year that the company plans to raise about 10 billion yuan ($1.6 billion) through a Hong Kong listing in 2013.

Newspaper website: http://www.eeo.com.cn

Write to djnews.shanghai@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

January 30, 2013 03:27 ET (08:27 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

Regulatory news

G4S plc UK : Holding(s) in Company

28/04/2017 15:48:39
For filings with the FCA include the annex   For filings with issuer exclude the annex     TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi     ..

Dimensional Fund Advisors Ltd. : Form 8.3 - John Wood Group Plc - Ordinary shares

28/04/2017 13:55:58
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser:   Dimensional Fund Advisors Ltd. ("Dimensional"), in its capacity ..

Form 8.5 (EPT/RI) - Tesco plc

28/04/2017 09:31:35
FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY 1.         KEY INFORMATION (a) Name of exempt principal trader:   Investec Bank plc   (b) Name of offeror/offeree in relation to whose relevant se..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
PATRIOT NATIONAL SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Patriot National, Inc. - (PN)
2
NANTHEALTH SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against NantHealth, Inc. – (NH)
3
3-DAY DEADLINE: Khang & Khang LLP Announces Securities Class Action Lawsuit against Omega Protein Corporation and Reminds Investors with Losses to Contact the Firm
4
Galapagos presents pre-clinical data with selective ADAMTS-5 inhibitor GLPG1972 for osteoarthritis at OARSI
5
SHAREHOLDER ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against U.S. Physical Therapy, Inc. and Reminds Investors with Losses to Contact the Firm

Related stock quotes

Daimler 67.10 0.0% Stock price unchanged

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2017   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
30 April 2017 00:15:27
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: ReleaseCandidateBuild_20170427.1 - EUROWEB3 - 2017-04-30 01:15:27 - 2017-04-30 00:15:27 - 1000 - Website: OKAY