Dubai International Capital says it has completed the acquisition of a company that operates plants that make parts for U.S. military aircraft and vehicles.
The $1.3 billion takeover of Doncasters Group Ltd. came after the White House conducted a two month review and President Bush signed off on the acquisition. Doncasters was acquired from Royal Bank of Scotland Equity Finance.
The deal follows the fierce battle over Dubai Port World's bid for a company that had operations at six U.S. ports. The government-owned Dubai Port World was forced to give up control of those ports because of national security concerns about an Arab company running U.S. ports.
Dubai International Capital is a government linked investor comprised of several companies.
Some information for this report was provided by AP and Reuters.