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Daimler to Book $780 Million on Sale of Tesla Shares
Daimler AG has sold its 4% stake in Tesla Motors Inc. for $780 million (€614 million).
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Daimler AG has sold its 4% stake in Tesla Motors Inc. for $780 million (€614 million).
Daimler will continue to source the electric powertrain for its Mercedes-Benz B-Class electric vehicles from the California-based maker of the Model S electric sedan. But it says holding equity in Tesla isn't necessary for the alliance to continue.
The company acquired a 9% stake in the American company in 2009 and transferred 40% of the shares to Aaabar Investments PJSC two months later. Capital increases at Tesla lowered Daimler's stake to 4%.
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