Stuttgart, Germany – Daimler has sold its share in Indian automotive company Tata Motors to various groups of investors, resulting in a cash inflow of approximately €300 million. The company said the sale would not affect the excellent relations the two companies share.
Daimler sold all of its 5.34 per cent of ordinary shares, the price of which had risen significantly especially in the last year.
Daimler said that it is in an excellent position to capitalize on the growth potential of the Indian passenger and commercial vehicle markets and continues to intensify its actions there, and an equity participation in Tata was no longer necessary. The sale was done in full consultation with Tata.