DIC completes sale of Mauser Group

Dubai: Dubai International Capital LLC announced on Monday that it has completed the sale of Mauser Group to Clayton, Dubilier and Rice for approximately $1.7 billion. The agreement for this sale was announced on May 12, 2014.

Mauser, a producer of industrial packaging, was originally acquired by DIC in 2007, valued at around $1.1 billion. Bank of America Merrill Lynch acted as financial advisor to DIC, the private equity arm of Dubai Holding, whilst Latham and Watkins provided legal counsel.