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: March 29, 2015
UAE. Deloitte launches 2015 Technology, Media & Telecommunications Predictions for the Middle East; Middle East millennials to spend around US$37 billion on media content; GCC countries to make significant open data advancements in 2015.
date:Posted: March 29, 2015
QATAR. S&P projects real economic growth to average about 4% annually in 2015-2018, sustained by the government's US$220 billion investment program.
date:Posted: March 28, 2015
QATAR. Notwithstanding the weak start for the global economy, Asian economies are expected to continue to grow rapidly in 2015. We expect economic growth to average 5.7% in 2015, the same rate as in 2014.
UAE. Deloitte launches 2015 Technology, Media & Telecommunications Predictions for the Middle East; Middle East millennials to spend around US$37 billion on media content; GCC countries to make significant open data advancements in 2015.
dhgate