Report: Daimler seeking Chinese investor image

Daimler AG, the manufacturer of luxury brand Mercedes-Benz, is reportedly seeking a Chinese investor that could take a 5-10 percent stake in the company.

According to Germany’s Manager magazine cited by Reuters, Daimler’s chief financial officer Bodo Uebber hired an investment bank to arrange a potential deal. In an excerpt of an article to be published on Friday, Manager magazine cites company sources which claim China Investment Corporation (CIC), the country’s sovereign wealth fund, is considered the main candidate to become a Daimler shareholder. So far Daimler declined to comment on the report, with CIC representatives also not available for comment.

In July 2011, Daimler CEO Dieter Zetsche said he would welcome additional investors from China. He added that he did not think the Chinese would try to take control of the company. As of September 30 2011, Daimler’s shareholder structure is as following: institutional investors – 60.9%, private investors – 20.1%, Aabar Investments – 9%, Kuwait – 6.9%, Renault – 1.55%, Nissan – 1.55%. By regions in which Daimler investors are based, Europe leads with 33.5% (without Germany), followed by Germany (29.3%), USA (18.4%), United Arab Emirates (9%), Kuwait (6.9%) and others (2.9%).