DAE TO SELL STANDARDAERO

Dino D'Amore
By Dino D'Amore December 13, 2010 11:51

DAE TO SELL STANDARDAERO

State-owned Dubai Aerospace Enterprise (DAE) is selling StandardAero as part of its strategy to pay down debt. DAE is believed to be willing to take a full or part offer for the company so it couldl share in the upside now the aviation industry has started to pick up again.

DAE bought the MRO and aviation service business from private equity firm Carlyle Group in 2007.

Deutsche Bank is advising on the sale. The auction has been running for a while but has been delayed because of DAE’s desire to retain a stake in the business as it is rumoured the company has never made a profit from StandardAero since its purchase in 2007.

Dino D'Amore
By Dino D'Amore December 13, 2010 11:51
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