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The agreement will give Daimler two seats on the board of BAIC Motor. The companies also agreed to increase BAIC's ownership stake in their production joint venture by 1 percent to 51 percent, allowing it to consolidate the unit's financial results in its own ahead of the IPO. In exchange, Daimler will increase its stake in their sales joint venture by 1 percent to 51 percent. Daimler's sales in China last year of its Mercedes-Benz, Smart, AMG and Maybach brands rose 4 percent over 2011 to 206,150 vehicles. ___ Daimler AG: http://www.daimler.com/
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