FRANKFURT -- DaimlerChrysler's sale of a 12.4 percent stake in Japanese ally Mitsubishi Motors Corp. will add $585.6 million (501 million euros) to 2005 net profit, the automaker said on Friday.
The world's fifth-largest carmaker confirmed completion of the sale, which it said generated proceeds of $1.13 billion and will improve its 2005 financial income by $796.4 million.
A unit of investment bank Goldman Sachs bought the 548.4 million Mitsubishi Motors shares from DaimlerChrysler and sold them on to institutional investors around the world at $2.15 each, a market source said.
The sale was the largest ever block trade of Japanese shares, according to data providers Dealogic.
Mitsubishi shares closed on Friday at $2.21.