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23-05-2007
BEIJING
(XFN-ASIA) - DaimlerChrysler AG has sold its
entire 50 pct stake in China's Yaxing Benz Ltd
for an undisclosed sum, citing DaimlerChrysler
(China) Ltd spokesman Trevor Hale.
The
report said the sale clears the way for the
company to enter a 50-50 truck joint venture
with Beiqi Foton Motor Co.
Chinese
rules permit foreign automakers to have only
two passenger vehicle joint ventures and two
commercial vehicle joint ventures.
Jiangsu
Yaxing Motor & Coach Group is now the sole
shareholder of Yaxing Benz.
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