Daimler's Mercedes-Benz Sells French Passenger-Car Plant
09 December 2020 - 3:08AM
Dow Jones News
By Kim Richters
Daimler AG said Tuesday that its subsidiary Mercedes-Benz AG is
selling its passenger-car plant in Hambach, France, to British
company INEOS Automotive.
The German car maker, which announced in July that it was
exploring the sale of the site, said the effects of the deal were
booked in the second and third quarter of this year.
It doesn't expect noticeable negative effects to be recorded for
Mercedes-Benz Cars & Vans in the fourth quarter.
The British company, which is part of chemical manufacturer
INEOS Capital Limited, will wholly acquire the plant's holding
company Smart France SAS.
Daimler didn't disclose the financial terms of the deal.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
December 08, 2020 10:53 ET (15:53 GMT)
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