Abu Dhabi prepares sale of Daimler stake
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Fri April 20, 2012 11:50 am
china wholesale market

UAE. Daimler's largest investor, the oil rich emirate of Abu Dhabi, is preparing to sell its 9% stake in the German automotive group, two sources familiar with the situation told Reuters on Thursday, confirming a magazine report.

"Abu Dhabi has been mulling an exit for some time now," said one of the sources.

The emirate's sovereign wealth fund Aabar became Daimler's largest investor after buying a 9.1% holding for 1.95 billion euros ($2.6 billion) in 2009.

The German carmaker's share price has since doubled, meaning the stake now has a market value of just over 4 billion euros.

A Daimler spokesman said the car maker had no knowledge of any plans by Aabar to reduce its Daimler stake, adding that there had been no talks with Aarbar on the matter.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: April 1, 2015
INTERNATIONAL. "We think that sukuk issuers will likely list more of their sukuk on exchanges and that some regulators will start to accept sukuk as collateral for liquidity provisions."
date:Posted: April 1, 2015
UAE. Investment bank focused on emerging markets asserts that Dubai could also be a beneficiary, as multinational companies could use the emirate as their hub for Iran opportunities.
date:Posted: April 1, 2015
UAE. Last year marks the fourth consecutive year private equity limited partners have been cash flow positive, with payouts from a wide open exit channel exceeding new investments in a challenging deal environment.
dhgate