Abu Dhabi May Sell Daimler Stake

Aabar Investments PJSC is considering how best to divest its remaining 3.1% stake in Daimler AG, Germany's Manager Magazin reports, citing unidentified Daimler sources.

Aabar is an investing arm of the emirate of Abu Dhabi, which is reviewing its overseas investments, the magazine says.

The firm became Daimler's largest stockholder in 2009 when it paid nearly €2 billion for a 9.1% equity stake in 2009. The investment gave the carmaker a needed cash infusion during the recession. Daimler, whose share value has since doubled, confirms that Aabar reduced its holding by two-thirds but didn't say when that occurred.

Aabar reportedly also wants to sell its 40% share of the Mercedes Grand Prix Ltd. Formula One racing team and its 3.1% stake in electric car startup Tesla Motors Inc.