Aabar Investments PJSC and partners, including International Petroleum Investment Co. and the government of Abu Dhabi, disposed of their holdings on Oct. 5, Stuttgart, Germany- based Daimler said in a statement after the market closed yesterday. The partners still hold 12.75 percent voting rights indirectly, Florian Martens, a spokesman at the carmaker, said today.
Daimler “respects” the shift in shareholdings, and nothing else has changed in its ties with Aabar, Martens said. Aabar didn’t immediately respond to requests for comments during the weekly Friday day off in the Persian Gulf.
Aabar, which bought stock in Daimler for 1.95 billion euros ($2.52 billion) in 2009, lent about half its holdings a year ago to an unidentified recipient, saying at the time that it remained “fully committed” to the carmaker. Since then, an investment firm affiliated with Daimler has shifted stock in U.S. electric-car manufacturer Tesla Motors Inc. to Aabar.
Daimler, Aabar and the Algerian government signed a memorandum of understanding in March 2011 to build trucks and buses in the North African country. Aabar also holds a stake in the Formula One racing team owned by Daimler’s Mercedes-Benz car brand.