Mercedes-Benz raises stake for unified dealer management
By Han Tianyang and Gong Zhengzheng | China Daily | Updated: 2012-08-13 08:04
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Three-pointed star at a Lei Shing Hong Ltd outlet in the Wangjing area of Beijing. The Hong Kong-headquartered company's share of the sales company for imported Mercedes-Benz cars will fall to 25 percent, according to an agreement signed on July 26. |
German auto group Daimler AG, the parent of Mercedes-Benz, recently reached an agreement with partner Lei Shing Hong Ltd for a bigger stake in the luxury brand's China sales company, its latest move to integrate sales channels and accelerate growth in the country.
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