Dubai International Capital

Dubai International Capital

Dubai International Capital (DIC) was established in October 2004 as the international investment arm of Dubai Holding. In 2005, it purchased the The Tussauds Group from Charterhouse Capital Partners for £800 million pounds ($1.5 billion).DIC has also acquired a 2% stake for $1 billion in German-US carmaker DaimlerChrysler, making it the company's third largest shareholder.

Recent developments

On March 2, 2006, The Washington Post reported that DIC plans to buy Doncasters Group Ltd., a British precision-engineering company with plants in Connecticut and Georgia that make precision parts used in engines for military aircraft and tanks.

The company said in a statement it is confident the U.S. government will approve its $1.2 billion offer. It said it was pursuing all U.S. regulatory approvals "as is customary for international business transactions of this nature."

See also

*Dubai Holding

External link

*dubaiic.com - Offical Website

References

*U.S. Reviewing Second Dubai-Based Company - AP via Yahoo! News