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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

CIC said to take stake in Mercedes-Benz

Posted on 07 January 2013

China Investment Corp, the nation’s sovereign wealth fund, plans to buy a 4-10% stake in Mercedes-Benz, Yicai.com reported, citing people with knowledge of the issue. It was reported that Daimler AG sought investment from China as early as July 2011, and the German carmaker confirmed the intention five months later.
The rumor about CIC’s interest in Mercedes-Benz first surfaced in February 2012. It was not until recently the real size of the stake was disclosed. Daimler is seeking partnership with China as the eurozone economy continues to languish, market watchers say………………………………………..Full Article: Source


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