| China Investment Corp, the country's US$300-billion sovereign wealth fund, is likely to buy a 5% to 10% stake in Daimler AG, the world's second-largest maker of luxury cars, a German magazine reported.
The German automaker is looking for a Chinese investor that could purchase up to 10% stake in it, said the magazine, adding that CIC is most likely to be the buyer. Bodo Uebber, Chief Financial Officer of Daimler, has hired an investment bank to handle the potential transaction, said the magazine...............................................Full Article: Source |