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Publish Date : 13-May-2014

The private equity arm of Dubai Holding, Dubai International Capital LLC (DIC), has signed an agreement for the sale of MAUSER Group to Clayton, Dubilier & Rice (CD&R) for c. $1.7 billion.

In 2007, MAUSER was acquired by DIC in a deal that valued the Group at c. $1.1 billion. MAUSER is a major producer of rigid industrial packaging. It has an employee base of 4,400 people and consolidated revenues of over $1.6 billion.

David Smoot, Chief Executive Officer of DIC, said, "MAUSER has been a very successful investment for DIC, providing a return of approximately double our equity invested. We partnered with a strong management to improve the Group from both a strategic and financial perspective, and now is the right time for it to continue its development under new ownership. MAUSER is well positioned to drive further growth and profitability given its attractive global platform."

MAUSER Group CEO, Hans-Peter Schaefer, adds, "On the behalf of our entire management I would like to thank DIC for supporting MAUSER through what was an incredibly successful period of growth for the business. In the seven years under DIC's ownership, we worked closely together to increase MAUSER's footprint and customer offering, as well as significantly improve its operational efficiency. I am looking forward to working with CD&R to continue building on MAUSER's success."

MAUSER, under the ownership of DIC, was successful in increasing its footprint covering key products and major areas. Presently, MAUSER operates 83 facilities across 18 countries.

Sonja Terraneo, Partner of CD&R said, "MAUSER has a strong track record of innovation, which has helped the company firmly establish itself as a market leader. There are exciting opportunities for further growth and we are looking forward to working with the management team to unlock value and continue to deliver success."

During the transaction, Bank of America Merrill Lynch performed as exclusive financial advisor to DIC. Latham & Watkins provided DIC with legal counsel.

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