Aabar Investments, the Abu Dhabi fund, has sold its remaining shares in the German car maker Daimler for more than €1 billion (Dh4.75bn), almost doubling its investment in three years.
Aabar, a subsidiary of the Abu Dhabi-owned International Petroleum Investment Company (Ipic), sold its remaining 3.07 per cent of Daimler for €1.25bn.
Daimler's share price stood at €38.15 when the sale went through on Thursday, about 85 per cent higher than the €20.27 a share Aabar paid in March 2009, which represented a 5 per cent discount to the market price at the time.
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