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Daimler Boosts Stake in Mitsubishi Fuso

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1/11/2011 11:15:00 AM

Daimler AG boosted its stake in Mitsubishi Fuso Truck Bus Corp. by about $360 million, to benefit from a recovery in global demand for commercial vehicles, Bloomberg reported Tuesday.

Germany-based Daimler increased its holding in Kawasaki, Japan-based Mitsubishi Fuso to 89.29%, from 85%, the two companies said.

Mitsubishi, whose stake dropped to 10.71%, will remain a “strong� business partner in Japan and internationally, Bloomberg reported, citing Daimler.

Daimler is the parent company of Daimler Trucks North America, which makes Freightliner and Western Star brand trucks.

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Emil Estafanous, CPA, CFF, CGMA