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

Tech Companies Send Criticism Along With NSA-Related Data -- Update

04/02/2014 00:06:00
By Danny Yadron Technology companies including Google Inc. and Microsoft Corp. released new figures on the amount of data requests they received from U.S. ..

U.S. Hot Stocks: Hot Stocks to Watch

03/02/2014 14:07:00
Among the companies with shares expected to actively trade in Monday's session is Herbalife Ltd. (HLF). Herbalife Ltd. (HLF) raised its fourth-quarter outl..

Pfizer Study Meets Primary Endpoints

03/02/2014 13:05:00
Pfizer Inc. (PFE) said Monday that a Phase 2 trial of its advanced breast cancer treatment met its primary endpoint. Pfizer said a study comparing the effec..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Proven VCT plc : Result of AGM
2
Proven Growth & Income VCT plc : Result of AGM
3
Publicis Groupe: First Half-Year 2014 Results
4
Wolters Kluwer Legal & Regulatory to Acquire LexisNexis Legal Business in Poland and Divest Canadian Legal Assets
5
ALBIOMA : FIRST-HALF 2014 RESULTS

Related stock quotes

Daimler 57.95 -12.3% Stock price decreasing
Euroinvestor around the globe: Euroinvestor.dk | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014   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.
 
23 July 2014 06:44:34
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20140710.1 - EUROWEB7 - 2014-07-23 07:44:34 - 2014-07-23 06:44:34 - 1000 - Website: OKAY