(MENAFN) Daimler said that Abu Dhabi's Aabar sold its remaining stake in the German carmaker for USD1.6 billion earlier this month, reported Arabian Business.
The company said that the 3.07-percent stake the Arab sovereign wealth fund sold is equal to 32.75 million shares, adding that Aabar still owns cash-settled call options comparable to 12.75 percent of Daimler's shares.
Aabar bought its 9-percent stake in Daimler in 2009 for USD2.51 billion, with the deal instating the company as the largest investor of the Mercedes-Benz maker.
The exit of Aabar comes after recent news of a Mercedes profit warning and a possible sliding revision to the division's operating margin target for 2013.
It is worth noting that recently, Kuwait raised it stake in Daimler from 6.9 percent to 7.6 percent.
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