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11-16-2005, 07:27 PM
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DaimlerChrysler sells its stake in Mitsubishi
AUTOMOTIVE NEWS
Posted Date: 11/15/05 On Friday, Nov. 11, DaimlerChrysler AG said it agreed to sell its remaining 12.4 percent stake in Mitsubishi Motors Corp. to finance giant Goldman Sachs Group Inc. DaimlerChrysler said it would record a gain of about 500 million euros, or $584.3 million at current exchange rates, for 2005 because of the transaction. The automaker said in a statement that it expects to complete the deal by month end. DaimlerChrysler and Mitsubishi plan to renew and extend current projects "which are mutually beneficial," DaimlerChrysler said. Goldman Sachs had no comment on Friday. |
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