Dubai to Sell Mauser to Clayton, Dubilier for $1.7 Billion - Bloomberg:
"Dubai International Capital LLC, the private equity unit of Dubai Holding, agreed to sell German industrial packager Mauser to Clayton, Dubilier & Rice for about $1.7 billion.
Mauser, which DIC acquired in 2007 in a deal that valued the company at about $1.1 billion, had consolidated revenue of more than $1.6 billion, DIC said in an e-mailed statement.
“Mauser has been a very successful investment for DIC, providing a return of approximately double our equity invested,” Chief Executive Officer David Smoot said.
The Mauser sale is the largest asset disposal by Dubai since it teetered on the brink of a default in 2009. The emirate is accelerating asset sales as it seeks to repay billions of dollars of debt accumulated by state-owned companies in a spending binge to make the city a trade and tourism hub."
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