Abu Dhabi Becomes Biggest Investor In Daimler, Taking 9.1% Stake

Bloomberg News:

Daimler AG, the world's second- largest maker of luxury cars, will sell 1.95 billion euros ($2.7 billion) of shares to Abu Dhabi's Aabar Investments PJSC, raising cash as it grapples with the deepening global recession and gaining a long-term shareholder.

Aabar will buy 96.4 million new Daimler shares for 20.27 euros apiece, the Stuttgart, Germany-based automaker said in a statement today. The price equates to a 5 percent discount to Friday's close of 21.34 euros.

Read the whole story: Bloomberg News