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Abu Dhabi Sells Tesla Stake

State-controlled Abu Dhabi National Energy Co. (TAQA) confirms it has sold its 7% stake in electric car maker Tesla Motors Inc.

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State-controlled Abu Dhabi National Energy Co. (TAQA) confirms it has sold its 7% stake in electric car maker Tesla Motors Inc.

The oil exploration and power supply company says it made a $113 million profit on the sale of 7.3 million Tesla shares. TAQA Vice Chairman H.E. Ahmed Saif Al Darmaki has resigned his seat on the U.S. company's board.

Gardner Business Media - Strategic Business Solutions