Daimler's Largest Single Investor Selling Portion of Stock

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largest single investor Aabar is selling off a third of its holdings in the company. Aabar is Abu Dhabi's sovereign wealth fund. It purchased about 9% of Daimler in March 2009 to make it the company's largest single investor. German business magazine manager magazin reports that it is selling of a third of those shares to Deutsche Bank. 

Aabar bought 9% of Daimler for €1.95 billion in March 2009. It loaned or rented about 6% of the shares immediately to finance the purchase. The company still had 5% voting rights within the company. 

Reports indicate that Aabar will slowly sell off the rest of its shares in Daimler. 

Source: Automotive News Europe