[ET Net News Agency, 13 November 2017] BAIC Motor (01958) said the company and Daimler
Greater China Ltd. (DGRC) agreed to contribute an aggregate amount of Rmb400 million to
Mercedes-Benz Leasing Co., Ltd. (MBLC) in proportion to their respective shareholding in
MBLC.
Of which, DGRC will contribute Rmb260 million, representing 65% of the amount under the
capital increase, while BAIC Motor will contribute Rmb140 million, representing 35% of the
amount under the capital increase.
Upon completion, the registered capital of MBLC will be increased from Rmb1,697.5
million to Rmb2,097.5 million. DGRC and BAIC Motor will continue to hold 65% and 35%
respectively of the equity interests in MBLC.
MBLC is principally engaged in the provision of finance leasing and relevant leasing
services in respect of automobiles under the brand of Mercedes-Benz to individuals and
enterprises. DGRC is previously known as Daimler Northeast Asia Ltd, established in
January 2001 in Beijing, a wholly-owned subsidiary of Daimler AG and hence a connected
person of BAIC Motor. (HL)