Dubai Aerospace to purchase eighty per cent stake in Jordan upkeep agency

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Dubai Aerospace to purchase eighty per cent stake in Jordan upkeep agency

September 20, 2016 four:17 pm

Dubai Aerospace Enterprise (DAE), an plane leasing and upkeep firm managed by the federal government of Dubai, stated on Tuesday it had agreed to purchase an eighty % stake in Jordan Plane Upkeep Restricted (Joramco).

DAE signed a definitive settlement to accumulate the stake in Joramco from Dubai-based mostly personal fairness home The Abraaj Group, DAE stated in an emailed assertion. The worth and phrases of the transaction weren’t offered.

Joramco is an unbiased business plane upkeep, restore and overhaul facility, which providers plane constructed by Airbus and Boeing, based on info on its web site.

DAE stated it might work with Joramco to broaden its “product choices, buyer attain and geographic space of focus.”

Supply: Press Launch

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