The Abu Dhabi Investment Authority (ADIA), the state-controlled fund, wants to purchase a stake in Mercedes-Benz, a source has revealed.
The ADIA is one of the wealthiest funds in the world, with liquid assets estimated to be in the region of £455 billion. It could afford a major stake in Daimler, whose current market value totals about £32 billion.
Abu Dhabi wants to join its UAE neighbour Kuwait as a major shareholder in Daimler. Kuwait’s investment authority already owns 7.6 per cent of Daimler and wants a bigger share.
Bosses at Mercedes are publicly denying any interest in a new, large investor. But sources close to Daimler CEO Dieter Zetsche claim that he’s interested in hearing proposals that could distance the company from small private equity shareholders, particularly given the current unstable economic climate.
Another Abu Dhabi government-controlled investment company has a five per cent share in Ferrari and a 17 per cent stake in Spyker Cars.