Mercedes-Benz Group to take 3% stake in Chongqing Qianli Technology
FILE PHOTO: Mercedes-Benz logo on display at the Everything Electric exhibition at the ExCeL London international exhibition and convention centre in London, Britain, March 28, 2024. REUTERS/Peter Cziborra/File Photo
HONG KONG :Chongqing Qianli Technology said on Thursday its key shareholder has agreed to transfer a 3 per cent company stake, valued at 1.34 billion yuan ($187.90 million), to Mercedes-Benz Group.
Chongqing Lifan Holdings has agreed to transfer 135.63 million shares of Chongqing Qianli at 9.87 yuan apiece to Mercedes-Benz, which undertakes not to reduce its shareholding in the next 12 months, the Qianli Technology said in a filing to the Shanghai bourse.
($1 = 7.1315 Chinese yuan renminbi)
Source: Reuters
