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Daimler bought a stake in BAIC for U.S. $ 875 million

German carmaker Daimler announced Friday that it will buy a stake in its Chinese partner to increase its presence on the largest automobile market in the world.

Daimler precise it will pay U.S. $ 875 million for a 12 per cent BAIC Motor, which makes Mercedes-Benz cars.

Daimler adds proceed to the investment in anticipation of a possible initial public offering of BAIC Motor.

Auto sales were up 7.1 percent in China in 2012, when 15.5 million vehicles were sold. Daimler sales in the country have improved 4 percent to 206,150 vehicles.

Daimler claims become, through this transaction, the first global automaker size to hold a stake in a Chinese manufacturer.

Daimler bought a stake in BAIC for U.S. $ 875 million picture #1

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