Schaumburg-based Motor Coach Industries International Inc. has agreed to sell a minority stake to Daimler AG in exchange for the right to sell and service one of the German luxury automaker’s best-selling lines.
The transaction would give Motor Coach Industries exclusive distribution rights for Daimler-made Setra S407 and S417 motor coaches in the United States and Canada. That gives Motor Coach Industries the ability to offer more products and “realize efficiencies and other benefits” from working with the global manufacturer, Motor Coach Industries CEO Rick Heller said in a statement.
