Beijing Auto to buy 40 pct of Daimler van JV -paper

Newswire

SHANGHAI, Aug 1 (Reuters) - Beijing Automotive Industry Holding Corp will pay 700 million to 800 million yuan ($103-$117 million) for a 40 percent stake in Fujian Motor Industry Group's 50-50 commercial vehicle venture with Daimler AG in southeast China, an official newspaper said on Saturday. Beijing Auto, which already makes Mercedes-Benz cars in partnership with Daimler in China, is still awaiting the Chinese government's approval of the deal, which will leave Fujian Motor with a 10 ...

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