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.
Joramco is an independent commercial aircraft maintenance,
repair and overhaul facility, which services aircraft built by
Airbus and Boeing, according to information on its website.
DAE said it would work with Joramco to expand its "product
offerings, customer reach and geographic area of focus."
(Reporting by Stanley Carvalho, Writing by Hadeel Al Sayegh;
Editing by Mark Potter)