In China, Mercedes-Benz sold 774,000 units in 2020, representing an 11.7 per cent increase from the previous year. Photo: AFP In China, Mercedes-Benz sold 774,000 units in 2020, representing an 11.7 per cent increase from the previous year. Photo: AFP
In China, Mercedes-Benz sold 774,000 units in 2020, representing an 11.7 per cent increase from the previous year. Photo: AFP

Jardine Matheson to transfer its Chinese Mercedes-Benz showroom business to affiliate Zhongsheng for US$1.3 billion

  • Jardine Matheson has reached an agreement to transfer the China business, currently operated under its Zung Fu brand, to Zhongsheng Group in a cash and shares deal
  • The US$1.3 billion deal will lift Jardine Matheson’s stake in Zhongsheng to 21.25 per cent, making the conglomerate its second-biggest shareholder

Topic |   Mercedes-Benz
In China, Mercedes-Benz sold 774,000 units in 2020, representing an 11.7 per cent increase from the previous year. Photo: AFP In China, Mercedes-Benz sold 774,000 units in 2020, representing an 11.7 per cent increase from the previous year. Photo: AFP
In China, Mercedes-Benz sold 774,000 units in 2020, representing an 11.7 per cent increase from the previous year. Photo: AFP
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