Geely chief amasses $9 billion stake in Germany's Daimler

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Reuters FRANKFURT
Last Updated : Feb 23 2018 | 11:25 PM IST

FRANKFURT (Reuters) - Li Shufu, the chairman and main owner of Chinese carmaker Geely, has amassed a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday.

The stake, worth nearly $9 billion at the current market price for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes Benz cars, trucks and vans headquartered in the German city of Stuttgart.

(Reporting by Douglas Busvine, editing by David Evans)

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First Published: Feb 23 2018 | 11:13 PM IST

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