Moody's upgrades Saudi Arabia's credit rating to Aa3 with stable outlook    Riyadh Metro to begin partial operations next Wednesday: Report    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Mahrez leads Al Ahli to victory over Al Fayha in Saudi Pro League    Al Qadsiah hands Al Nassr their first defeat in the Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Downing Street indicates Netanyahu faces arrest if he enters UK    London's Gatwick airport reopens terminal after bomb scare evacuation    Civil Defense warns of thunderstorms across Saudi Arabia until Tuesday    Saudi Arabia, Japan strengthen cultural collaboration with new MoU    Slovak president meets Saudi delegation to bolster trade and investment ties    Saudi defense minister meets with Swedish state secretary    Navigating healthcare's future: Solutions for a sustainable system    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Sixth foreign tourist dies of suspected methanol poisoning in Laos    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Trump picks Pam Bondi as attorney general after Matt Gaetz withdraws    Al-Jasser: Saudi Arabia to expand rail network to over 8,000 km    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Abu Dhabi fund rules out buying stake in Daimler, Opel
Published in The Saudi Gazette on 11 - 04 - 2009

Abu Dhabi's government-linked investment fund Aabar does not plan to buy either further shares in Daimler or a stake in Opel, a spokesman for Aabar said.
Asked by Reuters about a report on Friday that Aabar was raising its stake in Daimler, the spokesman said: “We are not.”
Germany's Focus magazine said Abu Dhabi was in talks to raise its Daimler stake from 9.1 percent now to more than 20 percent. It also said Aabar had no plans to invest in Opel, brushing off speculation the fund could make a white-knight appearance.
Earlier in the week the Aabar spokesman had already denied reports that the investment fund planned to take a stake in Opel, which is frantically seeking an investor.
General Motors' German unit Opel has said it needs 3.3 billion euros ($4.38 billion) in state aid from European governments to save jobs and keep plants open.
But it also said it needs an outside investor to push through its restructuring plan, and so far no one has publicly declared interest in Opel.
The ailing carmaker's rescue has become a political hot potato ahead of German elections in September as pressure mounts to help Opel, which traces its roots to the 19th century and was once a symbol of the country's post-war recovery.
On Monday, Economy Minister Karl-Theodor zu Guttenberg had said he could not rule out talks with the emirate over Opel, but he later rejected reports there were concrete plans to travel to Abu Dhabi next week to talk to potential investors.


Clic here to read the story from its source.