May 11, 2014 / 2:21 PM / in 4 years

CD&R agrees 1.25 bln euro buy of German packager Mauser - sources

DUBAI, May 11 (Reuters) - 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 chemicals.

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)

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