Daimler has asked Goldman Sachs to help it explore increasing its stake in Chine...
HONG KONG - Daimler has asked Goldman Sachs to help it explore increasing its stake in Chinese carmaker BAIC Motor Corp, its main China joint venture partner, two people with knowledge of the matter said.
Daimler’s rival BMW became the first to take advantage of the changes when it agreed in October to buy control of its venture with Brilliance China Automotive Holdings Ltd for 3.6 billion euros . Daimler’s discussions with BAIC are at an early stage and its plan to increase the stake in BAIC’s Hong Kong-listed entity has not been finalised and could change later, cautioned the people, who declined to be identified as the information is confidential.
It is not clear whether Daimler would seek a majority stake in BAIC, which has a current market capitalisation of $4.9 billion.
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