US body finalises study of DIC bid for Doncasters

WASHINGTON D.C — A US commission has finalised examination of Dubai International Capital’s bid for acquiring UK-based Doncasters Group, according to UAE Economy Minister.

By (Wam)

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Published: Sat 15 Apr 2006, 10:35 AM

Last updated: Sat 4 Apr 2015, 1:56 PM

Shaikha Lubna Al Qasimi has revealed that the US commission considering bids for acquisition of US firms had ended a 45-day scrutiny into the $1.224 billion bid by Dubai International Capital LLC (DIC), the international investment arm of Dubai Holding, to acquire UK-based Doncasters Group limited.

“The US commission will report its findings to the US President for taking a final decision within 15 days, according to the US law," Shaikha Lubna said in a telephone conversation with Wam from Atlanta, Georgia.

The UK Group has eight US-based firms, including one in Georgia.

Shaikha Lubna said she had talked over the phone with Congressman John Barrow, a Georgia Democrat opposing the deal. “I talked to him because one of Doncasters’ companies is based in his constituency,"she said.

Al Qasimi said Barrow, who had some reservations about the deal, visited the company last week.

“The purpose of the telephonic conversations and the visit was to familiarise Congressman Barrow with the company’s activities in the USA and the strong relations between the UAE and the US," she explained.

While in Atlanta, Shaikha Lubna met with a number of state officials. She also met the black leader, ambassador Andrew Young, who expressed his support of the deal. “Ambassador Young has lauded the UAE’s pioneering role in the Middle East region, and urged leading economic figures to back the deal," she said.

Shaikha Lubna met also with local and international editors of the Atlanta-based CNN TV network.

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