25.04.2016 - Dubai’s sovereign wealth fund puts Doncasters up for auction
One of Britain’s oldest engineering manufacturers, Doncasters, has been put up for auction for around £1.2bn by Dubai’s sovereign wealth fund after the business suffered a sharp downturn. Private equity firms and turnaround funds have been invited to bid for the 238-year-old business by Dubai International Capital (DIC), as the Gulf state unwinds its debt-fuelled buying spree in the run up to the financial crisis. An attempted DIC management buyout collapsed when financial sponsors Goldman Sachs, Carlyle and Blackstone took fright at Doncasters’ trading problems and sought to renegotiate the deal...............................................Full Article: Source
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