Abu Dhabi is to exit its investment in Daimler, according to a German magazine.

The Gulf state’s investment fund Aabar is currently discussing ways of disposing of its remaining stake after having cut its holding to 3% from 9%, manager magazin said, citing company sources, according to Reuters.

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Oil-rich Abu Dhabi, which accounts for more than half of the UAE’s economy, is reviewing its overseas investment portfolio as part of measures to instill more discipline in dealmaking among its investment firms, the news agency noted.

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