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BAIC Group Acquires Equity Interest In Daimler

Daimler (DDAIF.PK) reported that its long-standing partner BAIC Group (Beijing Automotive Group Co. Ltd.) is now a long-term investor in Daimler. BAIC has acquired an equity interest of approximately five percent in Daimler AG through Investment Global Co.

"The Chinese market is and remains a crucial pillar of our success - not only for sales, but also for our product development and production," said Ola Källenius, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars.

Daimler holds 9.55 percent of equity interest in BAIC Motor, a listed subsidiary of BAIC.

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