UAE Investors To Buy Sino Swearingen?

 - March 28, 2008, 11:15 AM

Investors from the United Arab Emirates are trying to purchase a majority share of financially troubled would-be jet manufacturer Sino Swearingen Aircraft, according to a news report published by Taiwan’s Central News Agency. However, the buyout plan might be subject to Taiwanese government approval following a planned presentation
of details on the investment. The published report said Taiwan’s Ministry of Economic Affairs had approved the investors’ plan to buy 80 percent of Sino Swearingen for $150 million and that 91 percent of Sino Swearingen is owned by the Taiwanese government. Neither Action Aviation nor Sino Swearingen was able to confirm the information from Central News Agency.