The billionaire founder of Zhejiang Geely Holding Group Co. has accumulated a stake worth about 7.3 billion euros ($9 billion) in Daimler AG, marking the biggest investment in a global automobile manufacturer by a Chinese company.
Li Shufuacquired the 9.7 percent holding through Geely Group, a company owned by the 54-year-old and managed by the carmaker he controls, according to a statementSaturday. Bloomberg News first reported that Geely has become the single largest investor in the parent of Mercedes-Benz by building up a position of just under 10 percent through purchases in the stock market in recent weeks.
Li Shufu
Photographer: Charles Pertwee/Bloomberg
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