Aabar Investments to become major Daimler shareholder Stuttgart: Daimler AG, the worlds second- largest maker of luxury cars, will sell $2.7 billion (Dh9.9 billion) of shares to Abu Dhabis Aabar Investments PJSC, raising cash as it grapples with the deepening global recession. Aabar will buy 96.4 million new Daimler shares, the Stuttgart, Germany-based automaker said in a statement. The capital increase was approved by Daimlers Supervisory Board on Sunday. The capital increase will be carried out by issuing 96,408,000 new registered no par value shares of Daimlers Authorised Capital approved by the Annual Shareholders' Meeting of April 9, 2008 in exchange for cash contributions. "We are delighted to welcome Aabar as a new major shareholder that is supportive of our corporate strategy," Daimler Chief Executive Dieter Zetsche said in a statement. "We look forward to working together to pursue joint strategic initiatives," he added. Daimler has repeatedly been a subject of takeover speculation in the past since it is one of the only major carmakers in the world without a protective shareholder. The future cooperation will focus on joint initiatives in the following areas: - Electric vehicles with a particular focus on projects aiming at the reduction of CO2-emissions - Development and/or production of innovative compound materials to be used in automotive manufacturing - Social projects such as the establishment of a training centre in Abu Dhabi to educate young talent for positions in the automotive industry The cash inflow from the capital increase of 1.95 billion will further improve Daimlers sound financial position. At the end of 2008, the equity ratio of Daimlers industrial business was 42.7 per cent and the equity ratio of the entire Daimler Group was 24.3 per cent. Source: gulfnews
That brings us to about 25% of shares owned by some individuals (along with Koweit) from Gulf States. It's interesting.
Don't get your hopes up, if any thing of a shocker merger will be BMW & MBZ soon, only as in parts supply. Only remote posibilty will be VW to be added to the mix.