Daimler And Tata End 56-Year-Old Relationship

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German carmaker Daimler has offloaded its 5.34% stake in Tata Motors, marking what industry experts see as an end to the long partnership between the two companies. The sale, which is being handled by Citigroup, will help Daimler raise up to US$429mn and is believed to be very strategic as it comes shortly after the Indian company reported a second consecutive quarter of net profit in Q3 of the financial year ending March 31 2010 (FY10).