UPDATE 1-DaimlerChrysler to buy stake in China's Foton

Newswire

(Adds details) SHANGHAI, Nov 30 (Reuters) - DaimlerChrysler will buy 24 percent of Chinese truck and pickup makerBeiqi Foton Motor Co. for 817 million yuan ($104 million), the Chinese company said on Thursday. Foton will issue 297 million new A-shares to the world's fifth-largest car maker, equivalent to 24 percent of its enlarged capital, at 2.75 yuan per share. That represents a discount of 24 percent to the company's last traded price on the Shanghai Stock Exchange. The Chinese ...

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