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GERMANY: Major shareholder may raise Daimler stake

By just-auto.com editorial team | 26 November 2009

Daimler's major shareholder Aabar had received a credit for US$1.62bn to possibly raise its stake in the German carmaker, daily Financial Times Deutschland reported.

The state fund of Abu Dhabi said it would use the money for "general corporate goals".

This fueled speculation that the investor plans to buy further into Daimler and shot the auto company's share price up. Previously Aabar had admitted to wanting to hike its participation to 15%.

The loan was gathered from local and international investors and will mature in six months' time.

According to an analyst from the National Bank of Abu Dhabi, interviewed by Reuters, Aabar could use the means to either reduce its debts or buy more Daimler shares.

Aabar did not comment.

The Arab investor bought into Daimler in the course of a capital increase in February and currently holds 9.1%. Thus the sheikhs are the biggest shareholders in the premium car maker.