Abu Dhabi state investment fund Aabar Investments has agreed to take a 9.1-percent stake in Germanys Daimler, the manufacturer of Mercedes Benz cars, the auto group said Sunday. The fund invested 1.95 billion euros (2.65 billion dollars) as part of a rights issue by Daimler, a statement said.
Aabar will take the lions share of the 96,408,000 new shares to be issued by Daimler at a price of 20.27 euros a share, said a joint statement released on Aabars website. The deal will be approved at the annual shareholders on April 9, it added.
"We are delighted to welcome Aabar as a new major shareholder that is supportive of our corporate strategy," Daimler chairman Dieter Zetsche said in the statement. "We look forward to working together to pursue joint strategic initiatives."
"Daimler is an iconic brand and a financially strong company with a reputation for excellence world-wide," Aabar chairman Khadem Al Qubaisi said.
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