As per the arrangement, Aabar has agreed to take a 9.1 per cent stake in Germany's Daimler, the manufacturer of Mercedes Benz cars and the world's biggest truck maker, the companies said. Aabar is listed on the Abu Dhabi Securities Exchange and directly invests in various sectors including energy, infrastructure, real estate, automotive and financial services companies.
German luxury carmaker Daimler has taken full control of the Mercedes Formula One motor racing team after buying a 40 percent stake owned by Abu Dhabi sovereign wealth fund Aabar Investments.
In this regard, AIG has entered into an agreement with Aabar Investments PJSC to sell its subsidiary, the insurance firm said in a statement on on Monday. According to UK daily The Telegraph, the Swiss subsidiary would be sold for about $254 million.
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