Aabar Investments PJSC “is in talks” to raise its stake in Daimler AG, the world’s second- largest maker of luxury cars, to 15 percent from 9.1 percent, the chairman of the Abu Dhabi government-backed investors said.
“We are thinking of increasing the stake,” Khadem Abdulla Al-Qubaisi said in a telephone interview today. “The timing will depend on the stock price.”
Aabar in March paid $2.7 billion for the stake in Stuttgart, Germany-based Daimler, becoming its largest shareholder. Aabar’s investment buttressed Daimler’s resources as the worst auto-industry crisis in decades forced the maker of Mercedes-Benz cars and trucks to cut working hours for assembly- line workers and close two plants in North America.
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