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Daimler-BAIC sign JV deal

By Li Fangfang | China Daily | Updated: 2013-11-20 07:05

German motor company to acquire 12 percent stake in Chinese partner

German vehicle manufacturer Daimler AG said Tuesday it had finalized its deal to acquire a 12 percent stake in its Chinese partner, BAIC Motor, the passenger car unit of Beijing Automotive Group.

In so doing, Daimler becomes the first foreign automaker to have a significant equity position in a Chinese company.

Daimler-BAIC sign JV deal

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