Chinese Set To Buy A 5% Stake In Daimler

Volvo owner Geely will buy 3-5% of Mercedes-Benz's parent company at a cost of £3.52 billion, according to Chinese state media.

The acquisition would make Geely the third-biggest Daimler shareholder, overtaking the Renault-Nissan-Mitsubishi Alliance, which owns 3.1%. Currently, 70.7% of Daimler is owned by institutional investors, while 19.4% is owned by private investors. Kuwait holds a 6.8% stake.

Daimler previously rejected an offer by Geely to buy a stake at a reduced rate, but told the Chinese company that it could buy shares in the open market, according to Reuters.

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PUGPROUD - 12/15/2017 2:52:19 PM

0 Boost

German pride be damned? Surprising to say the least...would have thought M-B, unions and/or German government would have found a way to keep Chinese from sticking their head under the tent. Just a thought.

TomM - 12/16/2017 5:16:39 PM

+1 Boost

If a company that has access to the markets wants to buy - at full retail - shares in a publically traded company - there is little that can be done to prevent that. However - currently - even a 4% stake in that company is meaningless - and will offer no access to the actual running of the corporation.

FOr years - Steve Jobs held more than twice that percentage of Disney Stock and did not even have a board seat.