Mercedes-Benz to buy back up to EUR 4B in shares

Mercedes-Benz Group AG announced that the board of management and the supervisory board of Mercedes-Benz Group AG have resolved to conduct a share buyback program. "Beginning March 2023, own shares worth up to EUR 4 billion – not including incidental costs – are intended to be acquired on the stock exchange over a period of up to two years and shall subsequently be cancelled. The share buyback programme will be based on the authorization by the Annual General Meeting of Mercedes-Benz Group AG on July 8, 2020, authorizing the Board of Management to acquire, with the approval of the Supervisory Board, own shares up to a maximum of ten percent of the share capital until July 7, 2025. Mercedes-Benz Group AG has separately agreed with its shareholders Beijing Automotive Group Co Ltd (BAIC) and Geely Group that they will each keep their shareholdings in Mercedes-Benz Group AG below ten percent by divesting their shares on a pro-rata basis concurrently with the share buyback," the company stated.