Abu Dhabi's sovereign wealth fund Aabar sold its remaining 3.07 percent stake in Daimler worth about 1.25 billion euros ($1.6 billion) on Oct. 5, the German carmaker said in a regulatory filing on Thursday.
The move, widely expected for some time, could heighten pressure on Daimler Chief Executive Dieter Zetsche, who has had to fight off calls from some investors to sell or spin off the group's commercial trucks business to concentrate on its underperforming flagship, the luxury car brand Mercedes-Benz. Amid reports the emirate was planning an exit, finance chief Bodo Uebber was forced to say late in April that the company was not a takeover candidate.
"Aabar realigned its investment in Daimler and we of course respect that," a spokesman for the carmaker said on Thursday. "We continue to be very pleased with our current shareholder structure," he added, pointing for example to the recent increase in Kuwait's stake to 7.6 percent from a previous 6.9 percent.
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