The Emirate of Abu Dhabi has acquired a 9.1 % stake in the German carmaker Daimler, thereby becoming its largest shareholder and joining Kuwait, which already owns a 6.9 % stake.

After the purchase was announced, Daimler’s shares promptly rose 7% on the German stock market. Other auto industry shares also benefited from the market’s good mood brought on by the deal. Last week it was further rumored that Arabian investors might purchase up to 25 % of Daimler and further takeovers of Daimler or other carmakers therefore seem possible. Abu Dhabi invested through its public joint stock company Aabar Investments PJSC, which is headquartered in Abu Dhabi and is listed on the Abu Dhabi Securities Exchange. While carmakers are said to be one of the first groups to benefit from an economic upturn, Aabar noted that it was looking for a long-term investment.