Abu Dhabi government owned investment firm buys major share of Daimler AG

[FoMoJo]

Not Earth shattering but, interesting...

Aabar Investment owns major share of Daimler

A company owned by the government of Abu Dhabi has pumped an additional $1.41 billion into Aabar Investment PJSC, giving the emirate majority control in the investment company set to become Daimler AG 's biggest shareholder. The announcement Monday came a day after Abu Dhabi-based Aabar -- an investment vehicle set up by the Persian Gulf sheikdom -- said it would pay nearly 2 billion euros ($2.72 billion) for a 9.1 percent stake in the German automaker best known for its Mercedes-Benz brand.

[AltinD]

Abu Dhabi Investment Authority and many other investments vehicles they operate, are reported to have lost maybe up to a few 100 Billions in the latest crisis and not only in bed investments in Sony, AMD, Citigroup & other Financial institutions but also allot on hedge funds and devalued assets (they do own Chrysler Building in NYC for example). Unless they got rid of it recently, Dubai used to be the 2nd biggest shareholder in Daimler after Kuwait's DAR.

On the other hand, Dubai is just broke ... mostly because of the drying up of liquidities in the market that slowed down or even stopped their huge investments in the city itself or elsewhere. It seams Abu Dhabi and Saudis are bailing Dubai out. :D

[S204STi]

Uh oh, terrorists are gunna be in charge of our carz!

[AltinD]

Uh oh, terrorists are gunna be in charge of our carz!

IDIOT ... as simple as that!