Singapore and China Buying 10% HERE Stake from BMW, Audi and Daimler

BMW, Audi, and Daimler are selling 10% stake in their mapping company Here to Singapore and China. The part of the company will go to the Chinese internet giant Tencent, Chinese digital map provider NavInfo, and an investment firm GIC from Singapore. The original trio will keep 90 percent of their shares.

They have acquired the company from Nokia last year for $3 billion. The Finland-based company first tried to sell to Facebook, Uber, Alibaba, Baidu, nad other companies for $4 billion, but they all declined.