Dubai company buys $1 billion stake in DaimlerChrysler
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Manufacturing News, Source : TheManufacturer.com
Published : 31 Jan 2005 20:35
Dubai International Capital announced its purchase of a $1 billion stake in automaker DaimlerChrysler.
The purchase makes Dubai International the third-largest DaimlerChrysler shareholder, after Deutsche Bank and Kuwait.
Dubai Holding, the parent company of Dubai International Capital, was created in October 2004 by Dubai’s ruler, Sheik Mohammed bin Rashid al-Maktoum.
According to the company’s web site, Dubai Holding is set to play a significant role in the creation of a number of large-scale projects, all of which are expected to be among the top companies in the Middle East. New areas of growth include the fields of media, healthcare, tourism, property, energy, industrial, research, and humanitarian-related projects.
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