UAE'S Aabar buys 40 pct of Daimler's Tesla stake

Abu Dhabi-based Aabar Investments AABAR.AD has purchased 40 percent of Daimler AG's (DAIGn.DE) stake in electric-car start-up Tesla Motors Inc, with the aim of launching a joint venture, Aabar said on Monday.

In May, Daimler acquired an equity interest of just under 10 percent in Tesla.

Tesla is one of the biggest players in the burgeoning electric car sector, while Aabar is viewed as a spearhead investor for the emirate of Abu Dhabi in non-energy assets.