DaimlerChrysler’s sale of a 12.4% stake in Japanese ally Mitsubishi Motors Corp (MMC) will add EUR501ms (US$585.6m) to 2005 net profit, DC reportedly said on Friday.

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According to Reuters, the carmaker confirmed completion of the sale, which it said generated proceeds of EUR970ms and will improve its 2005 financial income by EUR680m.


A unit of investment bank Goldman Sachs bought the 548.4m MMC shares from DaimlerChrysler and sold them on to institutional investors around the world at JPY257 each, a market source told the news agency.


The sale was the largest ever block trade of Japanese shares, Reuters said, citing data providers Dealogic.

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