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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

China Investment Corp eyes Daimler stake

Posted on 07 January 2013

China’s sovereign wealth fund plans to buy a 4 to 10 percent stake in German automaker Daimler AG, according to industry sources quoted in recent domestic media reports. The news in the Chinese-language press follows reports in late 2011 by Germany’s Manager magazine that Daimler has hired an investment bank to arrange a potential deal, with China Investment Corp considered the front-runner.
Daimler CEO Dieter Zetsche said at the time that the company would welcome additional investors from China. Recent reports on the potential CIC stake came after Abu Dhabi’s sovereign wealth fund Aabar sold its remaining 3.07 percent interest in Daimler last October………………………………………..Full Article: Source


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