Dubai International Capital LLC

Dubai International Capital LLC (DIC) was "launched on October 26, 2004," as the "newly formed investment arm of Dubai Holding, LLC." "Dubai International Capital's mission is to build an international portfolio of diverse business assets generating above average returns whilst also creating strategic alliances for Dubai Holding and its stakeholders." 

Controversies
Dubai International Capital completed its $1.3 billion purchase of Doncasters Group Ltd., a British precision-engineering company with "plants in Georgia and Connecticut that make precision parts used in engines for military aircraft and tanks," Tarek Al-Issawi, reported May 7, 2006, for the Associated Press.

On March 2, 2006, Dubai International Capital joined DP World as the second Dubai-owned company to come under investigation when it was announced that the Bush administration had "launched an unusual investigation over the potential security risks of its business moves in the United States." 


 * Doncasters "operates 25 manufacturing facilities and employs over 4,500 people across Europe and North America. It has an international blue chip customer base in the aerospace and industrial gas turbines industries and the automotive turbocharger and medical technologies sectors."

"The purchase passed two months of scrutiny by the Committee on Foreign Investments in the United States, a 12-agency panel headed by the U.S. Treasury Department that reviews transactions involving national security," Tarek Al-Issawi wrote. "The White House approved the deal last week, after American lawmakers said they were satisfied with the review."

"This investment follows a series of strategic, value-driven investments by DIC including a US$1 billion investment in DaimlerChrysler, the Â£800 million acquisition of The Tussauds Group , along with its anchor investments of US$272 million in JD Capital investment company in Jordan and US$150 million in Ishraq, a company formed to develop and own up to 22 Express by Holiday Inn hotels in the Middle East. ... DIC's financial adviser on the transaction was HSBC Bank plc. RBEF was advised by Lazard & Co. Limited." 

Leadership

 * Sameer Al Ansari, CEO

Contact Information
Website: http://www.dubaiic.com/

Related SourceWatch Resources

 * homeland security
 * Middle East Free Trade Area (MEFTA)
 * national security