Dubai Holding buys $1b stake in Daimler

Khaleej Times ^ | January 31, 2005

[ConservativeStatement]

DUBAI — Dubai Holding, through its entity Dubai International Capital, has acquired a stake in the world’s second largest automaker DaimlerChrysler, said Mohammed Al Gergawi, chief executive officer, Dubai Holding. Al Gergawi, said: "Dubai International Capital has acquired the stake valued at $1 billion, making it the third largest shareholder in the automobile manufacturer.

[endthematrix]

Chrysler is retooling in its Belvidere plant in IL at $400 million and looking to add about 1,000 employees. This though after some shut downs on the slow economy.

[yankeedame]

All I can say is, "Well...well..."

(My husband is a saleman for DaimlerChrysler)

[Khurkris]

Scuttlebutt is that Dodge/Chrysler is going to bring out more "Guy Cars"...always a market for them I guess...lol.