If you are one of those who pin their hopes on technological superiority as a bulwark against the Islamist hordes, take a Valium before reading on. Not only are the oil tics of Arabia globalizing mosques faster than you can say McDonald’s, they are also gobbling up American technology faster than Arnold can pour a gallon of unleaded into his Hummer.
ABU DHABI: The United Arab Emirates has completed the acquisition of two aviation subsidiaries of a major U.S. firm.
The acquisition would provide the UAE with advanced Western aviation technology and services as part of its plan to establish a global aviation network.
The state-owned Dubai Aerospace Enterprise has formally completed its acquisition of Standard Aero and Landmark Aviation from the U.S.-based Carlyle Group. Executives said DAE, which concluded the $1.9 billion deal on Aug. 1, would absorb the two former Carlyle subsidiaries within its DAE Engineering subsidiary.
“The closing of this acquisition is an important step forward in the business and investment relationships between Dubai, the United Arab Emirates and the United States,” DAE chairman Ahmed Bin Saeed Al Maktoum said. “DAE is making significant strides in the aerospace sector, and we appreciate all that went into making this transaction a success.”
The acquisition would provide the UAE with advanced Western aviation technology and services, executives said. DAE marked a $15 billion program by the UAE emirate of Dubai to develop an aerospace industry.
Wasn’t President Bush’s daddy involved with the Carlyle Group?
