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Daimler forms joint venture with UAE firms

International automotive financier…

October 7, 2009 4:52 by

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.

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