Tie-ups between traditionally European brands and Middle Eastern investment firms are becoming increasingly common. Aston Martin's primary shareholder is the Kuwaiti firm Investment Dar, and Porsche is currently hammering out a deal with Qatar, but now Abu Dhabi investment firm Aabar has purchased 4% of Daimler's stake in American electric car company Tesla Motors as a precursor to future joint ventures. The Reuters report of the deal indicates that the details of the future of the joint ventures are still under discussion, but statements from both Daimler CEO Dieter Zetsche and Aabar...
Report: GM wants 30% stake in possible joint Opel-Fiat company
The landscape of the automotive industry is changing, and before things are done, the changes may be massive. Already Fiat and Chrysler are forging an alliance, and Fiat is also going after part of Opel. Now a source says General Motors wants a piece of any merged Fiat-Opel operation that might...Ralph Hanson
Kuwaiti investor takes 40% stake in UK's Prodrive
Kuwaiti investment firm, The Investment Dar (TID), has taken a 40% stake in Prodrive, the UK motorsports and technology company announced today. The investment is the culmination of a year's worth of planning and talks that identified the benefits of the buy-in to both TID and Prodrive. “Our...Nelson Ireson