UAE – Mubasher: Dubai Aerospace Enterprise (DAE) has repurchased outstanding common shares at a value of $450 million.

The aerospace firm also received an early partial repayment of $450 million of a Note Receivable from certain shareholders, according to a press release.

"Our strong balance sheet combined with our best-in-class margins allowed us to further optimize our balance sheet prior to year-end. We are committed to running our business with low levels of leverage and optimal amounts of capital," DAE’s CEO, Firoz Tarapore, said.

 

It is worthy to mention that during the first nine months of 2019, DAE’s profits decreased to $260.5 million from $290.5 million a year earlier.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.