The European Commission granted clearance, on 4 January, to the acquisition of joint control of Brawn GP of the UK by Daimler AG of Germany and Aabar Investments PJSC of the United Arab Emirates, a subsidiary of International Petroleum Investment Company (IPIC, UAE). Daimler produces cars and commercial vehicles and provides financial services. IPIC is an investment company concentrating on petroleum refining and related upstream and downstream distribution and service networks. Brawn GP manages a Formula One motor racing team.