Two way bet

Daimler has found a new Arab friend. Aabar, an investment vehicle majority owned by one of Abu Dhabi’s sovereign funds, will be the proud owner of 9.1% of the German carmaker’s shares. It looks like a good deal for both sides, but a better one for Daimler. Daimler gets E1.9bn in cash, and has been able to sell a substantial number of shares at modest discount – 5% less than the Friday closing price. Add back on the 2008 dividend, and the discount is closer to 2%. Daimler won’t have to try the ...