|By TAP Staff|Dubai International Capital, the private equity arm of Dubai Holding, announced that it has completed the sale of Mauser Group to Clayton, Dubilier & Rice for $1.7 billion. The agreement for this sale was announced on 12 May 2014.
David Smoot, Chief Executive Officer of DIC, said the transaction demonstrated DIC’s ability to improve and grow the companies it has invested in to ultimately achieve an attractive value at the point of exit. “We are now focused on continuing to enhance the value of our remaining portfolio as we prepare the companies for an eventual exit.”
Mauser, a worldwide leading producer of rigid industrial packaging with approximately 4,400 employees and consolidated revenues of over $1.6 billion, was originally acquired by DIC in 2007 in a deal that valued the Group at $1.1 billion.
Bank of America Merrill Lynch acted as exclusive financial advisor to DIC. Latham & Watkins provided DIC with legal counsel.