Mercedes-Benz has been bought by a U.S. financial services firm, according to media reports.
The purchase price for Morgan Stanley’s investment in Mercedes-BMW Financial was $9.9 billion, according Reuters.
The stock has dropped nearly 4 percent since Tuesday.
The Wall Street Journal said that the financial services arm of the parent company of Mercedes-Bach brand was purchased by the U.K.-based financial services company.
Morgan Stanley will continue to operate Mercedes-Automobile, the Journal reported.
The German automaker will also continue to invest in Mercedes and BMW as part of a broader effort to strengthen the global brands of its two major carmakers, the newspaper said.