The Chinese automaker BAIC has bought a 5% stake of the German concern Daimler. This transaction has strengthened the strategic links between the companies. The cost of this share is about 2.5 billion euros.
The message of the Chinese company said that they had bought a share in Daimler. The size of the stake totaled 2.48%. The right to require cost another 2.5%.
We recall that since 2013, Daimler has got seats on the board of directors of BAIC Motor because it became an investor of the Chinese manufacturer.
The companies have been cooperating for a very long time. They have been successfully implementing joint projects for 14 years. For example, the joint venture BBAC has achieved a leading position in the Chinese market of premium cars.
The share of the German giant in BAIC Motor is 9.6%. It also has got about 3% in another division of the company engaged in the production of cars in the PRC market.
On Tuesday morning, Daimler shares showed the growth, which resulted in the increase of almost 2%.