Business | Investment
DIC buys stake in EADS
Investment firm Dubai International Capital (DIC) has bought a 3.12 per cent stake in Airbus' parent company.
- Agencies
- Published: 13:01 July 5, 2007
- Image Credit:
- The falling dollar and lengthy delays to the new A380 super jumbo led to a fall in profits of 94 per cent for EADS
Dubai: Investment firm Dubai International Capital (DIC) has bought a 3.12 per cent stake in Airbus' parent company.
The company said that it would not seek a seat on the board of EADS, but that it had confidence that Airbus would bounce back after a difficult year.
The falling dollar and lengthy delays to the new A380 super jumbo led to a fall in profits of 86 per cent
The statement said: "The company's challenges are well-publicised. However, we are confident that EADS's superior product offering, comprehensive restructuring programme and committed management represent a strong fit with the fund's investment strategy.
"We are supportive of EADS management's announced steps to regain investor confidence by delivering the envisaged recovery plan at its Airbus subsidiary," added the statement.
More from Investment
More from Business
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
