By on April 19, 2012

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.

Both Daimler and the funds have no comment on the matter. However, both the Wall Street Journal and Reuters  received confirmation from their sources.

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.)


Get the latest TTAC e-Newsletter!

7 Comments on “No More Abu Daimler...”

Read all comments

Back to TopLeave a Reply

You must be logged in to post a comment.

Recent Comments

  • ToolGuy: I graduated from high school in 1984 and was a subscriber to Car and Driver at the time [print edition...
  • dal20402: Conclusion: BAT’s a special place. Those eBay listings make me think my original estimate was...
  • Scoutdude: Um no fleets didn’t buy Teslas until well after they had actually built cars and had done so for a...
  • Lou_BC: Where have I said it was a wonder drug?
  • JD-Shifty: Leave January 6 out of this

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Mark Baruth
  • Ronnie Schreiber