Aabar’s Voting Rights In Daimler Fall To 5%
Abu Dhabi’s Aabar Automotives’ voting rights in duty trucks manufacturer Daimler have fallen below 5 percent.
Abu Dhabi’s Aabar Automotives’ voting rights in duty trucks manufacturer Daimler have fallen below 5 percent, Reuters reports. Aabar, which previously owned 96.408 million of Daimler shares accounting for 9.04 percent of Daimler’s share capital, now holds 53.298 million Daimler shares. Aabar will retain the right to redelivery of a further 43.109 million Daimler shares, the control of which Aabar has transferred through stock lending to fund its original purchase of Daimler shares. The passing of the 5 percent notification threshold was due to an increase in Daimler’s share capital as a result of the exercise of stock options and not due to a permanent divestiture of Daimler shares by Aabar.
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