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Mercedes Yalla!

Discussion in 'Middle East' started by Pav, Mar 23, 2009.

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  1. Pav

    Pav Formula 3
    Lifetime Rossa

    Jan 18, 2006
    2,159
    Warsaw, Poland
    Full Name:
    Michal
    Aabar Investments to become major Daimler shareholder
    Stuttgart: Daimler AG, the world’s second- largest maker of luxury cars, will sell $2.7 billion (Dh9.9 billion) of shares to Abu Dhabi’s 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 Daimler’s Supervisory Board on Sunday.

    The capital increase will be carried out by issuing 96,408,000 new registered no par value shares of Daimler’s 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 Daimler’s sound financial position. At the end of 2008, the equity ratio of Daimler’s industrial business was 42.7 per cent and the equity ratio of the entire Daimler Group was 24.3 per cent.


    Source: gulfnews
     
  2. Arvin Grajau

    Arvin Grajau Seven Time F1 World Champ
    Silver Subscribed

    Jun 7, 2006
    76,938
    Wurundjeri man.
    Full Name:
    Arvin Grajau
    yep
     
  3. Pav

    Pav Formula 3
    Lifetime Rossa

    Jan 18, 2006
    2,159
    Warsaw, Poland
    Full Name:
    Michal
    That brings us to about 25% of shares owned by some individuals (along with Koweit) from Gulf States. It's interesting.
     
  4. Tarek K.

    Tarek K. F1 World Champ

    Sep 7, 2006
    10,784
    Cairo - Egypt
    Full Name:
    Tarek K.
    A result of a credit crunch..........wise move though.
     
  5. Modificata

    Modificata F1 Rookie

    Apr 27, 2003
    2,654
    Hampton, England
    Full Name:
    Andy Rasool
    Wow. Thats amazing.
     
  6. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
    34,548
    Ontario, Canada
    Full Name:
    Mike
    +1
     
  7. Telefonos de Mexico

    BANNED

    Nov 11, 2008
    54
    Mexico Pueblos Oaxac
    Full Name:
    Raúl Campos
    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.
     

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