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DaimierChrylser sells stake in Mitsubishi

German-American automaker DaimlerChrysler AG ended its unsuccessful involvement with Japan`s Mitsubishi Motors Company last week, selling its 12.4 percent stake in the company to Goldman Sachs for an undisclosed price. Before the latest share transaction, DaimlerChrysler was Mitsubishi Motors` fourth largest shareholder.

U.S. investment bank Goldman Sachs Group, Inc., now becomes Mitsubishi Motors` largest shareholder with a 13.4 percent stake. Shares of DaimlerChrysler gained nearly 2 percent to ?42.78, or $50.32, in Frankfurt trading.

DaimlerChrysler once held 37 percent of Mitsubishi Motors as part of its goal to become a global auto powerhouse, but the company decided last year against pumping more money into the troubled Japanese automaker.