China’s sovereign wealth fund considers Daimler investment

Daimler reports an increase in profit on back of Mercedes sales

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.

0saves
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.

Comments are closed.

Powered by WordPress