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Market - Germany - DaimlerChrysler sells its 12.4 percent stake in Mitsubishi
FRANKFURT, Germany -The Detroit News (Detr,Mich,USA) -11 Nov 2005: -- DaimlerChrysler AG said Friday that it has sold its entire 12.4 percent stake in Mitsubishi Motors Corp. to U.S. investment bank Goldman Sachs Group Inc... DaimlerChrysler said the sale would boost its revenue for 2005 by about $588 million... Mitsubishi, Japan's fourth-biggest carmaker, has seen its sales in Japan plunge after acknowledging five years ago that it had systematically hidden auto defects for more than two decades to avoid recalls... The two carmakers jointly develop and produce engines and share use of vehicle architecture. They also jointly produce passenger cars, sport utility vehicles and pickup trucks in Europe, North America, China and South Africa...
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