![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
Stake * China - DaimlerChrysler AG buys into truck maker
Beijing,China -People´s Daily Online -Dec 01, 2006: -- German-US auto group DaimlerChrysler AG will acquire a stake of major Chinese truck producer Beiqi Foton Motor Co, but its plan to build Mercedes-Benz trucks in China with the Shanghai-listed firm still faces obstacles... DaimlerChrysler will buy 297 million shares issued by Foton for 816.8 million yuan (US$104.1 million), the Chinese company said yesterday in a statement to the Shanghai Stock Exchange... The deal will enable DaimlerChrysler to have 24 per cent of Foton and become its second biggest shareholder after Beijing Automotive Industry Corp (BAIC), China's No 5 vehicle manufacturer... Foton said DaimlerChrysler will be its strategic overseas investor which means that the German-US automaker will hold its stake for at least three years according to government rules released in January...
posted by Unknown @ 12:43 PM
0 Comments:
Post a Comment
<< Home