February 23, 2018 / 5:09 PM / 3 months ago

China's Geely buying $9 bln stake in Daimler - Bloomberg

Feb 23 (Reuters) - China’s Zhejiang Geely Holding Group Co is buying a stake worth about 7.5 billion euros ($9.22 billion) in Daimler AG to become the largest investor in the German automaker, Bloomberg reported on Friday, citing people familiar with the matter.

Zhejiang Geely owns Volvo, as well as the maker of London's black cabs and last year acquired a 49.9 percent stake in Malaysian automaker Proton. (bloom.bg/2CFmcXq)

Daimler declined to comment while Zhejiang Geely did not immediately respond to a request for comment. ($1 = 0.8131 euros) (Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)

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