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Abu Dhabi Fund Eyes Stake in Daimler - Magazine - ASHARQ AL-AWSAT English Archive
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FRANKFURT, (Reuters) – Abu Dhabi Investment Authority (ADIA), the world’s largest sovereign wealth fund which has bought into Citigroup, is interested in buying a large stake in Daimler, the German Focus magazine reported.

The magazine quoted sources close to the company as saying Daimler Chief Executive Dieter Zetsche was warm to the plan as the German car maker was vulnerable to attacks from private equity investors due to its weak share price and the lack of large shareholders.

Focus also said Daimler managers were in talks with ADIA. It added that Kuwait, Daimler’s only major shareholder with a 7.6 percent stake, plans to increase its holding in the company. Daimler had said it was not seeking another large shareholder.

“We do not comment on current and potential investors when their holdings are below disclosure levels,” a Daimler spokesman told the magazine.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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