Market Chatter: BYD Buys 10% of Chinese Joint Venture With Mercedes-Benz

MT Newswires Live09-18 13:18

BYD (HKG:1211, SHE:002594) acquired the remaining 10% stake it does not hold in its China-based joint venture with Mercedes-Benz Group, Bloomberg News reported Sept. 17, citing a statement from the automobile maker.

The statement did not disclose the price of the transaction, the report said.

The venture operated for 13 years, marketing the Denza premium electric vehicle brand. The acquisition ended the partnership between BYD and Mercedes-Benz, according to the media outlet.

BYD's shares rose more than 1% on the Hong Kong bourse.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $242.80, Change: $+2.8, Percent Change: +1.17%

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