United Arab Emirates company Zabeel Investments said it was part of the purchase of a 3.12 % stake in Airbus parent EADS by a Dubai-managed fund.
Dubai International Capital (DIC) said on Thursday it had bought the stake for an undisclosed price through its Global Strategic Equities Fund, betting on the success of a recovery plan for the world’s largest planemaker.
Zabeel, a real estate development and private equity firm founded in Dubai in 2006, did not indicate the size of its share in the investment in a statement received on Friday.
The stake would help the UAE expand its aviation sector, Zabeel said.
“With some of the world’s most profitable and sustainable airlines, such as Emirates and Etihad, it makes sense for UAE companies to invest in this area,” Zabeel Chairman Mohammed al-Hashimi said in the statement.
The government of Dubai owns Dubai International Capital as well as airline Emirates, the largest customer for Airbus’s A380 superjumbo.
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