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Daimler AG will sign a final agreement to buy a 12 percent stake in Beijing Automotive Group Co's passenger-car unit this week, securing a stake in the Chinese automaker ahead of a planned initial public offering. The automaker, based in Stuttgart, Germany, will sign the deal at the Beijing local government offices, Beijing Automotive Chairman Xu Heyi said on Monday in the Chinese capital. Hendrik Sackmann, a Daimler spokesman, said "we're progressing well" and that the automaker will communicate more when the contracts are signed.
