Daimler AG (XTRA:DAI) agreed to acquire the remaining 49% stake in Mercedes-Benz Malaysia Sdn. Bhd. from Cycle & Carriage Bintang Berhad (KLSE:CCB) for MYR 66 million on November 30, 2018. As on November 25, 2019, Daimler AG (XTRA:DAI) entered into a share sale agreement to acquire the remaining 49% stake in Mercedes-Benz Malaysia Sdn. Bhd. from Cycle & Carriage Bintang Berhad (KLSE:CCB). Daimler AG exercised the call option to acquire the remaining 49% stake in Mercedes-Benz Malaysia Sdn. Bhd. from Cycle & Carriage Bintang Berhad on November 30, 2018. Under the terms of the transaction, Daimler AG will acquire 66.003 million shares from Cycle & Carriage Bintang Berhad for MYR 1 per share. Post completion, Cycle & Carriage Bintang Berhad will cease to hold any Mercedes-Benz Malaysia Sdn. Bhd. shares. Mercedes-Benz Malaysia Sdn. Bhd. reported loss after tax of MYR 12.47 million and net asset of MYR 270.988 million for the period ended December 31, 2017. The transaction is expected to take place on November 30, 2019. The proceeds from the disposal are expected to be utilized for the working capital, repayment of bank borrowings of Cycle & Carriage Bintang Berhad, network infrastructure and/or for such other purposes as deemed appropriate by Cycle & Carriage Bintang Berhad.

Daimler AG (XTRA:DAI) completed the acquisition of remaining 49% stake in Mercedes-Benz Malaysia Sdn. Bhd. from Cycle & Carriage Bintang Berhad (KLSE:CCB) on December 11, 2019.