Aabar Posts $613 Million Second-Quarter Loss on Derivatives

Aabar Investments PJSC, the biggest shareholder in Daimler AG, posted a second-quarter loss as it booked 2.25 billion dirhams ($613 million) in losses from derivative financial instruments.

Net loss was 2.18 billion dirhams compared with a profit of 546.3 million dirhams a year earlier, the Abu Dhabi government- backed investor said in a statement to the emirate’s bourse today.

Aabar in March paid $2.7 billion for a 9.1 percent stake in Stuttgart, Germany-based Daimler, the world’s second-biggest luxury carmaker. In July, it bought a 32 percent stake in Richard Branson’s Virgin Galactic Ltd. commercial space venture for $280 million.