Dubai International Capital (DIC), a unit of Dubai Holding, the conglomerate owned by the ruler, is planning to launch a formal sale process for Doncasters, a British-based engineering aerospace group, which the company has been owning since 2006.

Investment bankers will soon be appointed to advise on the sale of the prized asset, reported the Skynews, citing bankers involved in the deal.

The company based in Burton-upon-Trent, UK, which traces its roots back to 1778, manufactures precision components for aircraft engines and industrial gas turbines.

Part of the investment vehicle of Dubai's ruler, Sheikh Mohammed bin Rashid Al Maktoum, DIC rose to prominence in the mid-2000s as it took stakes in several global brands including Daimler and Sony.

The current owner had already appointed advisers to handle vendor due diligence as part of the sale process, the report added.