Daimler forms joint venture with UAE firms
International automotive financier…
October 7, 2009 4:52 by kippreport
International automotive financier, Daimler Financial Services, has entered into a joint venture with two local companies, Al Fahim Group, and Gargash Enterprises, both of whom are the official Mercedes-Benz distributors in the UAE. The medium-term goal of the new companies is to “achieve a contract volume of more than AED2 billion in the UAE,” Andreas Ernst, the managing director of Mercedes-Benz Finance and Mercedes-Benz Leasing said in the press release.
The new companies will offer many financial services products, including shari’a compliant financing.