SINGAPORE (June 4): On Feb 23, Daimler announced in a filing that Zhejiang Geely Holding Group had acquired a 9.7% stake in Daimler for €7.3 billion ($11.4 billion). With this stake, Geely becomes the single-largest shareholder of Daimler, whose most famous marque is Mercedes-Benz. Geely also owns another well-known European brand — Volvo — and former British brand Lotus (see Chart 1).

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