German car maker Daimler has confirmed that Abu Dhabi’s Aabar Investments has taken a $2.67 billion stake in the company.
To seal the deal the Daimler board approved an increase in the company’s share capital of 10 percent via the issue of 96.408 million shares in exchange for cash contributions.
Aabar's largest stakeholder is International Petroleum Investment Company (IPIC), which in turn is wholly owned by the Government of Abu Dhabi.
In a statement Daimler CEO Dieter Zetsche said the firm welcomed Aabar not only as a major shareholder but also one that is supportive of its corporate strategy.
