State-owned Dubai fund buys stake in EADS
Dubai fund acquires stake in EADS; fund will not seek seat on board or role in management
A fund managed by state-owned Dubai International Capital (DIC) has bought a 3.12 percent stake in Airbus parent EADS. DIC did not give details of how much it paid for the stake, saying only that it was investing with partners.
Perhaps keeping in mind the firestorm caused by Dubai Ports World’s purchase of operations at major U.S. seaports last year, DIC hastened to state that “Neither the fund nor DIC will seek a board seat or take an active role with EADS but will seek to build a strategic relationship with the EADS management and shareholders. The company’s challenges are well-publicized. However, we are confident that EADS’s superior product offering, comprehensive restructuring program and committed management represent a strong fit with the fund’s investment strategy.”
