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. |
"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. |
| Gotta invest the oil money somewhere. |