* Aabar stake falls to zero from 3.07 pct on Oct. 5
* Still owns cash-settled call options worth 12.75 pct
* Daimler "pleased" at current shareholder structure
FRANKFURT, Oct 11 Abu Dhabi's sovereign wealth
fund Aabar sold its remaining 3.07 percent stake in
Daimler worth about 1.25 billion euros ($1.6 billion)
on Oct. 5, the German carmaker said in a regulatory filing on
The move, widely expected for some time, could heighten
pressure on Daimler Chief Executive Dieter Zetsche, who has had
to fight off calls from some investors to sell or spin off the
group's commercial trucks business to concentrate on its
underperforming flagship, the luxury car brand Mercedes-Benz.
Amid reports the emirate was planning an exit, finance chief
Bodo Uebber was forced to say late in April that the company was
not a takeover candidate.
"Aabar realigned its investment in Daimler and we of course
respect that," a spokesman for the carmaker said on Thursday.
"We continue to be very pleased with our current shareholder
structure," he added, pointing for example to the recent
increase in Kuwait's stake to 7.6 percent from a previous 6.9
The exit of Aabar comes after recent news of a Mercedes
profit warning and a possible downward revision to the
division's operating margin target for next year. Daimler
reports quarterly earnings on Oct. 25.
Daimler shares closed up 0.8 percent on Thursday to finish
trading at 38.15 euros, nearly twice as much as the 20.27 euros
that Abu Dhabi paid for the shares in a capital increase that
excluded existing shareholders back in March 2009.
The deal enthroned Aabar as the largest investor of Daimler
after the sovereign wealth fund bought a roughly 9 percent
holding for 1.95 billion euros, much of which was promptly
loaned out to finance the purchase.
While Aabar no longer owns any stock in Daimler after
selling the 32.75 million shares on Oct. 5, the regulatory
filing said it still owns cash-settled call options equivalent
to 12.75 percent of Daimler's shares.
Abu Dhabi's state-owned fund International Petroleum
Investment Co in June posted a $2.25 billion fair value loss on
the stakes held by its unit Aabar in Daimler.
($1 = 0.7726 euros)
(Reporting by Christiaan Hetzner; Editing by Mark Potter)