No More Abu Daimler
The Emir of Abu Dhabi is tired of the car business. Germany’s Spiegel Magazin heard that Abu Dhabi’s sovereign wealth fund Aabar wants to sell all stock in Daimler. Aabar also wants out of Daimler’s Formula 1 team and the joint investment in Tesla.
The sheikhs had bought 9 percent of Daimler AG in March 2009, which made Abu Dhabi Daimler’s largest shareholder. That engagement is now down to 3 percent. Both share 7.8 percent of Tesla’s stock 60 (Daimler) to 40 (Abu Dhabi). Abu Dhabi National Energy held 7 percent of Tesla, and has already sold it.
A look at Daimler’s chart says that it is a good time to sell. The Sheikhs approximately doubled their money in Daimler. Reuters thinks they cleared 2 billion euro ($2.6 billion.)
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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