(MENAFN) Dubai International Capital, the private equity arm of Dubai Holding, has recently sold its Mauser Group to New York-based private equity firm Clayton, Dubilier & Rice for about USD1.7 billion, according to Arabian Business.
David Smoot, chief executive officer of DIC, said: "We are extremely pleased with the outcome of the Mauser sale. This 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 is a leading producer of rigid industrial packaging and has about 4,400 employees and revenues of more than USD1.6 billion. Founded in 1896, it is headquartered in Bruehl near Cologne in Germany.
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