Chongqing Qianli Technology said on Thursday its key shareholder has agreed to transfer a 3% company stake, valued at RMB 1.34 billion ($187.90 million), to Mercedes-Benz Group, reports Reuters.
Chongqing Lifan Holdings has agreed to transfer 135.63 million shares of Chongqing Qianli at RMB 9.87 apiece to Mercedes-Benz, which undertakes not to reduce its shareholding in the next 12 months, the Qianli Technology said in a filing to the Shanghai bourse.