DUBAI May 11 Private equity firm Clayton
Dubilier & Rice (CD&R) has agreed a deal to buy Germany-based
packaging group Mauser from Dubai International Capital (DIC)
for around 1.25 billion euros ($1.72 billion), two sources aware
of the matter said on Sunday.
DIC bought Mauser from JP Morgan's buyout unit in
2007, in a deal which valued the firm at 850 million euros.
It decided to put the company up for sale earlier this year
in what will be one of the largest asset disposals by the
emirate since its debt crisis in 2009.
Reuters reported on Thursday that CD&R was in advanced talks
to acquire Mauser, which makes packaging equipment such as cans
and drums for transporting medical waste and other hazardous
DIC declined to comment, while CD&R wasn't reachable for
comment outside of normal business hours.
($1 = 0.7269 Euros)
(Reporting by Mirna Sleiman; Editing by David French)