Daimler AG has increased their share capital by 10% with new shares that all were bought by Abu Dhabi based Aabar Investments PJSC.
Aabar bought 9.1 percent of Daimler with an issue price of €20.27 per share. Total value of the deal is 1.95 billion euros (2.7 billion USD).
This investment allows Daimler to strengthen its capital base and invest into new technologies and research. Main focus will be on electric vehicles, lower CO2 emissions and development of new compound materials.
Daimler now has two major shareholders. Second largest shareholder is Kuwait, which has an equity interest since 1974. Following the capital increase, the equity interest held by Kuwait will amount to 6.9%. For more details take a look at the press release below.
Press release:
* Daimler increases share capital by 10% with exclusion of subscription rights of existing shareholders
* After acquiring all new shares, Aabar will hold 9.1% of the new share capital
* Issue price of €20.27 per share close to the current market price
* Total investment of €1.95 billion further strengthens Daimler’s sound capital base and offers additional flexibility to invest in new automotive technologies
* Platform for joint strategic initiatives established
* Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG: “We are delighted to welcome Aabar as a new major shareholder that is supportive of our corporate strategy. We look forward to working together to pursue joint strategic initiatives.”
* HE Khadem Al Qubaisi, Chairman of Aabar: “Daimler is an iconic brand and a financially strong company with a reputation for excellence worldwide. We are delighted to having received the opportunity to be making this investment.”
Dear readers, after reading the Content please ask for advice and to provide constructive feedback Please Write Relevant Comment with Polite Language.Your comments inspired me to continue blogging. Your opinion much more valuable to me. Thank you.