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Monday, 1 August 2016

Dubai Ruler’s DIC Said to Hire BofA, Goldman for Doncasters Sale - Bloomberg

Dubai Ruler’s DIC Said to Hire BofA, Goldman for Doncasters Sale - Bloomberg:

"Dubai International Capital LLC, the private equity business owned by Dubai’s ruler, is exploring a sale of its British engineering group, Doncasters Group Ltd., according to people with knowledge of the situation.
Dubai International is working with advisers at Bank of America Corp., Credit Suisse Group AG and Goldman Sachs Group Inc. to seek potential buyers for the business, which could fetch more than 2 billion euros ($2.2 billion), the people said, asking not to be named because the deliberations are private. The discussions are at an early stage and a formal sale process hasn’t begun, the people said.
The private equity firm is closing down after restructuring $2.5 billion of debt, people familiar with the matter said in April. Dubai International’s management team had previously held talks to buy out the aerospace parts maker with financial backing from Blackstone Group LP and Goldman Sachs, among others, people familiar with the plan said last year."



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