DaimlerChrysler intends to divest its majority stake in the company that is its exclusive distributor for Mercedes-Benz vehicles in Iran, Germany's WirtschaftsWoche magazine reported on its Web site.
"The group is reacting to the growing pressure that the United States is applying on companies that do business in Iran," the magazine said Monday, without giving a source for its information.
It said DaimlerChrysler would sell its 51 percent stake in marketing group Setareh in the next few weeks.
DaimlerChrysler, the world's fifth-biggest car maker thanks to the 1998 merger of Germany's Daimler-Benz with U.S. automaker Chrysler, declined comment.
Read Article