UPDATE 1-Abu Dhabi's Aabar sells 1.25 bln euro Daimler stake


* 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

(Adds background)

FRANKFURT, Oct 11 (Reuters) - Abu Dhabi's sovereign wealthfund Aabar sold its remaining 3.07 percent stake inDaimler worth about 1.25 billion euros ($1.6 billion)on Oct. 5, the German carmaker said in a regulatory filing onThursday.

The move, widely expected for some time, could heightenpressure on Daimler Chief Executive Dieter Zetsche, who has hadto fight off calls from some investors to sell or spin off thegroup's commercial trucks business to concentrate on itsunderperforming flagship, the luxury car brand Mercedes-Benz.

Amid reports the emirate was planning an exit, finance chiefBodo Uebber was forced to say late in April that the company wasnot a takeover candidate.

"Aabar realigned its investment in Daimler and we of courserespect that," a spokesman for the carmaker said on Thursday.

"We continue to be very pleased with our current shareholderstructure," he added, pointing for example to the recentincrease in Kuwait's stake to 7.6 percent from a previous 6.9percent.

The exit of Aabar comes after recent news of a Mercedesprofit warning and a possible downward revision to thedivision's operating margin target for next year. Daimlerreports quarterly earnings on Oct. 25.

Daimler shares closed up 0.8 percent on Thursday to finishtrading at 38.15 euros, nearly twice as much as the 20.27 eurosthat Abu Dhabi paid for the shares in a capital increase thatexcluded existing shareholders back in March 2009.

The deal enthroned Aabar as the largest investor of Daimlerafter the sovereign wealth fund bought a roughly 9 percentholding for 1.95 billion euros, much of which was promptlyloaned out to finance the purchase.

While Aabar no longer owns any stock in Daimler afterselling the 32.75 million shares on Oct. 5, the regulatoryfiling said it still owns cash-settled call options equivalentto 12.75 percent of Daimler's shares.

Abu Dhabi's state-owned fund International PetroleumInvestment Co in June posted a $2.25 billion fair value loss onthe stakes held by its unit Aabar in Daimler.

($1 = 0.7726 euros)

(Reporting by Christiaan Hetzner; Editing by Mark Potter)

((christiaan.hetzner@thomsonreuters.com)(+49 - 69 - 75651249)(Reuters Messaging:christiaan.hetzner.thomsonreuters.com@reuters.net))