China’s Geely buying $9b stake in Daimler to become biggest shareholder

China’s Geely buying $9b stake in Daimler to become biggest shareholder

A building of the Geely Auto Research Institute is seen in Ningbo, Zhejiang province, China August 4, 2017. REUTERS/Aly Song/Files

Chinese manufacturer Zhejiang Geely Holding Group Co. is acquiring a stake worth almost 7.5 billion euros ($9.2 billion) in Daimler AG to become the largest investor in the German automaker, according to people with knowledge of the matter.

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