February 12, 2018 11:43 am JST

HK-Listed BAIC Motor In Talks With Daimler JV To Transfer Certain Assets

  By Benny Kung
Nikkei Markets
  HONG KONG (Feb 12) -- Beijing-headquartered carmaker BAIC Motor said its board agreed on Friday to transfer certain assets of its Beijing branch to subsidiary Beijing Benz Automotive.

Details of the asset transfer are still under negotiation and the parties have not yet reached a definitive agreement, BAIC Motor said in a statement to the Hong Kong stock exchange on Monday.

Shares of BAIC Motor gained 0.6% as of 10:36 a.m. while the city's benchmark Hang Seng Index added 0.3%.

Daimler, which makes the Mercedes-Benz brand of premium vehicles, controls 49% of Beijing Benz.
  - By Benny Kung; hkeditorial@nikkeinewsrise.com; +852 3960 5150
- Edited by V. Phani Kumar
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2018 Nikkei NewsRise Asia Pte Ltd.

Get Insights on Asia In Your Inbox

To read the full story, Subscribe or Log in

Get your first month for $0.99

Redeemable only through the Subscribe button below

Once subscribed, you can…

  • Read all stories with unlimited access
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

Resubscribe now to continue reading.
BEST OFFER:
Only US$ 9.99 per month for a full-year subscription

To read the full story, Subscribe or Log in

Once subscribed, you can…

  • Read all stories with unlimited access
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.