The transaction likely to have no impact on DAE's capital adequacy ratios
0.00% 4.42 0.00
Dubai - Mubasher: Dubai Aerospace Enterprise (DAE) Ltd., a global leading aircraft leasing company, on Thursday said it has repurchased the 4% of its common shares owned by the leading real estate developer Emaar Properties.
Accordingly, DAE is currently 100% directly and indirectly owned by the state-owned holding company Investment Corporation of Dubai (ICD), according to a press release.
The Dubai-based aerospace firm expected the transaction to have no impact on its capital adequacy ratios.
Khalifa H. AlDaboos, deputy CEO of ICD, said: “Emaar was part of the initial investor group along with ICD when DAE was incorporated in 2006. We value the support they have provided over the years to grow DAE into the strong market leader it is today.”
In turn, Firoz Tarapore, CEO of DAE, commented: “DAE’s capital position has gone from strength to strength over the years and we are delighted to be able to complete this transaction in the second quarter without any impact on our capital adequacy and liquidity metrics.”
(c) All Rights Reserved - Mubasher Info 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers