Beijing Auto to be the
largest shareholder at Beijing-Benz
By Ally From:
Beijing Automotive Industry Holding
Corp is expected to become the largest shareholder at
Beijing-Benz DaimlerChrysler Automotive Co Ltd (BBDC); a 50:50
joint venture between DaimlerChrysler and Beijing Auto, after
Chrysler sales are completed this September, said Xu Heyi,
chairman of the joint venture.
However, it will not happen until next
year due to the fact that DaimlerChrysler has so many joint
ventures worldwide and each joint venture requires sole one on
one focus, said Hu, but the most important thing is that their
Chinese partner's gain the ability to make key decisions in
future business transactions as its shares will remain unchanged
in the venture.
This will leave Daimler and Chrysler to
decide who takes how many shares.