Dubai International Capital, a $6 billion private equity firm owned by the ruler of the Gulf Arab emirate sold on Monday its shares in auto maker Daimler Chrysler.
Shares of Daimler Chrysler have surged more than 20 percent since Dubai International Chief Executives announced on November 11 that he was considering selling some of his roughly 20 million shares in the auto maker.
That made him Daimler Chrysler's fourth-largest shareholder, according to most recent Reuters data.
Dubai International bought the shares in January 2005 at 32 euros each. They were trading at 55.12 euros at 1415 GMT, a rise of 72.3 percent.
That made him Daimler Chrysler's fourth-largest shareholder, according to most recent Reuters data.
Dubai International bought the shares in January 2005 at 32 euros each. They were trading at 55.12 euros at 1415 GMT, a rise of 72.3 percent.
The firm plans to boost the value of assets it manages more than three-fold to $20 billion within five years through further acquisitions.
Dubai International is in talks to buy Dubai-based luxury brand retailer Rivoli Group in a deal worth more than $500 million. Rivoli represents foreign brands such as Montblanc, Links of London and Longines.
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