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The idea of ​​Daimler's stake in Beiqi may be becoming a reality. According to a Reuters report on January 22, two sources familiar with the plan said that the German automaker Daimler Group hopes to buy a part of the rights of its Chinese partner, Beijing Automobile Group, to increase its presence in China this year. The market's declining share.
"Investment will be carried out before the Beijing Automobile's initial public offering (IPO) and Daimler will become the only investor in the automotive industry," a source said. In the news, "Beijing Auto", also known as "Beijing Automotive Co., Ltd.", is called "Beijing Automotive Co., Ltd.". It is the passenger vehicle business platform that BAIC Group will soon list.
As early as a week ago, it was reported that Daimler may purchase 10% to 20% of its shares when Beijing Auto was listed. Goldman Sachs and Morgan Stanley have already commissioned the project. As for the time to market, Beihe Group Chairman Xu Heyi had publicly stated in September last year that Beiqi Co., Ltd. plans to list in Hong Kong by the end of this year and raise 100 billion yuan. A source said that the final time to market may be postponed until 2014.
According to industry analysis, this will be the first time that foreign capital will participate in a state-owned auto group, and its breakthrough significance is extraordinary. Judging from the current government attitude, it is obviously to support this equity cooperation. At the end of 2012, when the Chairman of the Board of Directors of Daimler AG and President Cai Che of the Mercedes-Benz Automotive Group came to Beijing, relevant leaders of the Beijing Municipal Committee once stated that “will continue to actively support both parties in accelerating Daimler’s strategic investment in Beiqi Co., Ltd. and Beijing Benz. Reorganization and other items.
This is a win-win choice. The investment in BAIC can help Daimler get back on track when its business in China is in poor condition. Although China has become Daimler-Benz’s third largest market after Germany and the United States, its performance is far behind that of BMW and Audi.
The Reuters report quoted sources as saying that Daimler would benefit if IPO stocks rose. The person also revealed that Daimler is also seeking to obtain a board seat in Beijing Motors, but the discussion on this topic has not yet ended.
For BAIC, since the three years since its inception in 2009, BAIC has tried various options to achieve a more attractive asset listing. Daimler’s shareholding plan is the most feasible way. The introduction of the global auto giant Daimler as its shareholder, together with the newly established new joint venture company, Beijing Benz Sales & Service, will greatly increase the effectiveness of its listing financing.
At the same time, some domestic media recently reported that China Investment Co., Ltd. has also made progress in the plan to invest in Daimler. In the past two months or so, CIC has conducted several rounds of discussions on investment in Daimler. Now that the investment has passed the prequalification.
However, due to sensitive issues, Daimler and BAIC did not respond to the news.