UPDATE 1: Abu Dhabi firm borrows six-month loan for general commercial purposes.
, which owns stakes in Daimler AG and the Brawn GP Formula One team, said it borrowed $1.62bn from local and international lenders in a six-month club loan deal for general corporate purposes.
shares rose 2.2 percent on the Abu Dhabi exchange, while the general index was near flat.
"The loan could be either for refinancing an existing debt that is maturing or some development has taken place, perhaps increasing its stake in Daimler," an analyst at
National Bank of Abu Dhabi
told Reuters. The analyst declined to be named for this report.
told Reuters earlier in November it wanted to increase its 9.1 percent stake in the German carmaker.
made the statement on Wednesday via the Abu Dhabi Securities Exchange without offering further detail.
Company officials contacted by Reuters declined to comment.
is majority owned by the Abu Dhabi government's International Petroleum Investment Company (IPIC).
Since late last year, Aabar has acquired stakes in companies across the world including AIG Private Bank, electric car maker Tesla Motors, Virgin Galactic and Banco Santander.
and Daimler bought a 75.1 percent stake in the Brawn GP Formula One team, the latest in its acquisition spree.
also said it is considering raising its equity in Daimler. (Reuters)