Abu Dhabi sovereign wealth fund sells Daimler stake worth $1.6 billion
12 Oct 2012
Abu Dhabi's sovereign wealth fund Aabar Investments has sold its remaining 3.07 per cent voting stake in German carmaker Daimler worth around €1.25 billion ($1.6 billion), the carmaker yesterday said in a regulatory filing.
Daimler, maker of luxury Mercedes-Benz car, said that Aabar sold 32.75 million shares on 5 October, but sovereign wealth fund still owns cash-settled call options equivalent to 12.75 per cent of Daimler's shares.
Aabar had acquired a 9.04 per cent stake in the carmaker in March 2009 at €20.27 a share valued at €1.95 billion ($2.52 billion).
Daimler shares closed at €38.15 yesterday.
Other major shareholders in the Stuttgart-based carmaker are the emirate of Kuwait with a 7.6 per cent stake, while Renault and Nissan hold 1.54 per cent each.
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