Abu Dhabi-based Aabar Investments is to take a 9.1 per cent stake in Daimler in a €1.95bn (£1.84bn) move to bolster the German premium carmaker, becoming its largest shareholder as the company battles against the worst industry crisis in decades.
Daimler said it would increase its share capital by 10 per cent and Aabar would pay €20.27 per share for the entire offering, which will make the part-state owned Gulf company its largest shareholder. The closing price on Friday was €21.34.
The investment comes as carmakers around the world struggle with the impact of the economic crisis and some have asked for government support.
No comments:
Post a Comment