An Abu Dhabi based state investment fund has agreed to take a 9.1 per cent stake in Germany’s Daimler auto group. The deal, to be approved at the annual shareholders meeting on April 9, will make Aabar Investments Daimler’s biggest shareholder, topping the 6.9 per cent stake held by Kuwait. Daimler chairman Dieter Zetsche said he was looking forward to pursuing joint strategic initiatives with Aabar Investments. The two companies plan to collaborate developing electric vehicles. As well as Mercedes, Daimler also makes Smart cars and is the world’s leading truck maker.
ABU DHABI’S STAKE IN GERMAN COMPANY
An Abu Dhabi based state investment fund has agreed to take a 9.1 per cent stake in Germany’s Daimler auto group.
