Daimler has a new Chinese major shareholder. The main owner of Chinese auto Group Geely, Li Shufu, was involved in Daimler with 9.69 percent, group confirmed. The share has a value of a good seven billion euros, according to current prices. Geely belongs among or things to Swedish brand Volvo.
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“Daimler is pleased to have won anor long-term investor with Li Shufu,” he said. The German group knows and appreciates Li as a Chinese entrepreneur with “special competence and future orientation” with which one can discuss industrial change constructively.
To date, State Fund of Kuwait, with approximately 6.8 percent of Daimler shares, was largest shareholder. Already in early February, picture on Sunday had reported that re had been a meeting between Li Shufu and Daimler CEO Dieter Zetsche. Thus, Chinese investor wants to enter into an alliance with Daimler in order to strengn vehicle industry against competition of Internet companies. But above all, Li is likely to try to furr internationalize Geely by joining Daimler.
At end of last year it became known that Geely has also become largest shareholder in commercial vehicle manufacturer Volvo trucks. The financial investor Cevian sold its entire share package of 8.2 percent and 15.6 percent of voting rights to China. Until 1999, car and truck producers were still toger, since y only used brand toger.
