Daimler to sell dealerships to Chinese firm Lei Shing Hong

Wednesday, Jun 17, 2015

German carmaker Daimler is poised to agree a deal to sell its eastern German Mercedes dealerships to China's Lei Shing Hong (LSH), Stuttgarter Zeitung reported, citing several people familiar with the matter.

The transaction would include outlets in the cities of Magdeburg, Leipzig, Schwerin, Dresden and Rostock, the newspaper said in a summary of an article to be published on Wednesday.

It said Daimler would keep its outlets in Berlin.

Daimler was not immediately available for comment.

Daimler has said it would sell some company-owned Mercedes dealerships, which have in the past accounted for about half of the brand's car sales in Germany, and invest 500 million euros ($561.60 million) in the remaining centers.

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