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A Dubai firm becomes one of the biggest shareholders of EADS
DUBAI: Dubai International Capital, an investment company owned by the emirate's ruler, Sheik Mohammed bin Rashid Al Maktoum, became one of the biggest shareholders in European Aeronautic Defense & Space on Thursday, taking a 3.12 percent stake in the company.

The company, based in the United Arab Emirates, said in a statement that it would not seek a board seat or try to take an active role at the maker of Airbus commercial planes and military aircraft, but "will seek to build a strategic relationship with the EADS management and shareholders."
I think that means they'd rather have the insider contacts and the French bribe money.
The stake would be worth around €614 million, or $835.7 million, at the Wednesday closing share price.

"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," the company said in a statement. "We are supportive of EADS management's announced steps to regain investor confidence by delivering the envisaged recovery plan at its Airbus subsidiary," it said.

Airbus said in February that it would cut 10,000 jobs and sell up to six factories after a two-year delay in delivering the A380, the world's largest commercial passenger aircraft.

EADS said it welcomed the investment.
Since they had no choice.
The stake deal means that Dubai is now one of EADS's largest shareholders while also being one of the biggest buyers of Airbus planes. The government-owned Emirates airline currently has 50 Airbus planes, with a further 116 on order. It is the biggest customer for Airbus' A380 superjumbo jet, with 47 on order. Dubai International has spent $6 billion since 2004 buying stakes in DaimlerChrysler and other companies.
Gotta invest the oil money somewhere.

Posted by: anonymous5089 2007-07-05
http://www.rantburg.com/poparticle.php?ID=192631