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Abu Dhabi seems to have a penchant for high profile companies. There was Citi (where they took a big loss) and AMD and now this:
http://thenational.ae/article/200903...497783260/1001
As the article hints, they really want to ramp up local manufacturing. Volksagen wants to manufacture there, a polymers park is coming up, there are massive solar projects in the pipeline, and even local entrepreneurs are getting in on the act.
http://thenational.ae/article/200903...497783260/1001
An Abu Dhabi company with Government links has agreed to buy a Dh9.73 billion (US$2.65bn) stake in the owner of Mercedes-Benz, in a deal that could bring electric-car manufacturing to the Emirate.
The deal between Aabar Investments and Daimler is one of the most prominent examples to date of the Government’s strategy of developing domestic industry in partnership with household brands from the West.
The deal between Aabar Investments and Daimler is one of the most prominent examples to date of the Government’s strategy of developing domestic industry in partnership with household brands from the West.