Daimler Sells Tata Stake
With performance of Indian automotive company Tata Motors up, along with its stock price, and Daimler (NYSE:DAI) making significant inroads into the Indian auto market, Daimler decided to divest itself of its stake in the compayn by selling the entirety of the 5.34 percent stake of common shares in the company.
Daimler will enjoy about €300 million from the sale of their shares in Tata Motors. Daimler, just from this, should generate a nice profit on the books for the first quarter.
Together with India, Daimler sees the overall BRIC countries (Brazil, Russia, India and China) as great markets for their products, and the growth region of the future for them, especially in the commercial vehicle market.
Daimler Sells Tata Stake
Wednesday, March 10, 2010
Tuesday, March 9, 2010
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You can contact any of the authors of Bric Business at
simonsays26@comcast.net. Authors can be fowarded your email if you want to contact one individually.
Gary Thomas
Ellen Stevens
Jim Stevens
Kyle Simon
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