Daimler, Aabar Divide Their Tesla Stake

Daimler AG affiliate Blackstar InvestCo. has transferred 3.2 million shares of Tesla Motors to Aabar Investments as part of a deal to unwind the Abu Dhabi sovereign wealth fund's stake in Blackstar.

Daimler acquired Aabar's 40% stake in Blackstar on Tuesday. In exchange, the emirate received a proportionate share of Blackstar's Tesla holding. Aabar now owns a 3.1% of the Palo Alto, Calif.-based electric car maker. The fund also holds a 3.1% stake in Daimler.

Blackstar, now wholly owned by Daimler, tells the U.S. Securities and Exchange Commission it retains 4.9 million Tesla shares, a 4.6% stake. Blackstar remains Tesla's third-largest investor after CEO Elon Musk and Fidelity Investments.

Blackstar invested in Tesla in 2010. The EV maker has supplied lithium-ion batteries and other components for the electric versions of Daimler's Smart ForTwo and Mercedes-Benz A-Class. Tesla agreed in February to develop an electric powertrain for a B segment Mercedes-Benz wagon due by 2014.