Daimler takes 12 percent stake in Chinese partner BAIC to shore up presence in growing market

  • by: CHRISTOPHER BODEEN , Associated Press
  • Updated: November 19, 2013 - 5:30 AM

BEIJING — Daimler AG has taken a 12 percent stake in its Chinese partner Beijing Automotive Group for 625 million euros ($845 million), expanding its footprint in the fast-growing China auto market.

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