Dubai Aerospace to buy 80 pct stake in Jordan maintenance firm

September 20, 2016 10:10 AM

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DUBAI, Sept 20 Dubai Aerospace Enterprise (DAE), an aircraft leasing and maintenance company controlled by the government of Dubai, said on Tuesday it had agreed to buy an 80 percent stake in Jordan Aircraft Maintenance Limited (Joramco).

DAE signed a definitive agreement to acquire the stake in Joramco from Dubai-based private equity house The Abraaj Group, DAE said in an emailed statement. The value and terms of the transaction were not provided.

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