Dubai International Capital mulling sale of German packager Mauser
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Sat February 11, 2012 10:58 am
china wholesale market

UAE. Dubai International Capital, a private equity unit owned by the emirate’s ruler, is considering a sale of German industrial packager Mauser AG, people familiar with the plans said.

The investment firm is working with Bank of America Corp.’s Merrill Lynch unit to explore options for the Bruehl, Germany- based company, said the people, who declined to be identified because the process is confidential.

Private equity firms will probably look at Mauser, which has annual sales of 1 billion euros (US$1.3 billion), said one of the people.

Dubai International, owned by Sheikh Mohammed Bin Rashid Al Maktoum’s Dubai Holding LLC, bought Mauser in 2007 from JPMorgan Chase & Co.’s buyout unit One Equity Partners LLC in a deal valuing the company at 850 million euros.

The potential sale comes as several companies in the emirate try to restructure loans after property prices and asset values slumped and credit markets froze.

Dubai Group LLC, an investment company owned by the emirate’s ruler, offered to pay creditors over five to 10 years as it seeks to restructure US$6 billion of bank debt, a banker familiar with the proposal said this week.

Dubai World, a holding company for the emirate’s government, reached an agreement with about 80 creditors in March on restructuring billions in debt.

A spokesman for Dubai International told Bloomberg Mauser is not currently for sale, and that Bank of America is a trusted adviser. Spokeswomen for Mauser and Bank of America declined to comment when contacted by Bloomberg.

Mauser was founded in a small town in the Black Forest in 1896 by Alfons Mauser, son of the inventor of the gun of the same name. The company builds packaging such as drums and cans for transporting hazardous materials such as chemicals and employs about 4,000 people.

Mauser said on February 8 that Hans-Peter Schaefer had been appointed to replace Clemens Willee as the company’s chief executive officer. Schaefer has been with Mauser since 2004.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: February 27, 2015
UAE. In S&P's view, the sharp drop in oil prices since mid-2014 is likely to lead to weakening economic, external, and fiscal profiles for the region, particularly for the GCC.
date:Posted: February 26, 2015
UAE. Collinson Latitude report calls for travel brands to reinvent loyalty schemes as they unveil a new breed of traveller who demand more choice and flexibility.
date:Posted: February 26, 2015
UAE. New report's findings are based on Deloitte Global's review of data from a Facebook-commissioned global survey of 10,500 people who use social media.
BAHRAIN. During an interview with Euromoney Conferences, John Sfakianakis the GCC Regional Director at Ashmore Group, said the milestone decision to liberalise the Saudi Tadawul Index is extremely significant as investors will be able to gain exposure to a formidable oil economy by investing in its market.
dhgate