Remember the big national security brouhaha that happened last year when a United Arab Emerates-owned company wanted to buy several U.S. ports operations? Well, the Middle East-meets-West scenario is unfolding again, only this time the proposed acquisition target is a little closer to home.
The state-owned Dubai Aerospace Enterprise is negotiating with the Carlyle Group to buy Landmark Aviation, the company that operates the 200-employee jet repair facility at Augusta Regional Airport. The $1.5 billion deal would also include a Canadian company called Standard Aero.
Tempe, Ariz.-based Landmark, formerly known as Garrett Aviation, is one of the largest providers of jet repair service in the country. It's been reported that Dubai Aerospace, a company started last year, would buy and then sell Landmark's 33 business aircraft terminals, keeping only the company's aircraft maintenance operations, such as the one in Augusta. That assumes that the deal actually goes through. If you recall, Congress forced the U.A.E.-owned Dubai Ports World to sell the ports to U.S.-based AIG Global Investment Group.
The transaction is subject to review by the Committee on Foreign Investment.