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China’s sovereign wealth fund considers Daimler investment

Chinese sovereign wealth fund China Investment Corporation (CIC) is pondering the acquisition of an interest in German premium motor vehicles manufacturer Daimler AG (ETR:DAI), Chinese media reported.

The online platform of China’s The People’s Daily newspaper, The People’s Daily Online, has reported that the sovereign fund is poised to buy a minority stake of between 4% and 10% in Daimler.

Reuters said on Monday it could not reach Daimler immediately for comment on the matter.

Daimler is based in Stuttgart, Germany. The group is composed of five divisions namely Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services.