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...It also bought a stake in New Day Aluminum, the parent of Noranda Alumina — owner of the Gramercy refinery and St. Ann Bauxite operations....
...executive of Noranda Alumina, said....
...The falls dragged the basic materials segment of the S&P/ASX 200 index down 0.2 per cent with a better start from some metals producers – Alumina was up 3.3 per cent and BlueScope Steel gained 1.1 percent...
...DIC’s remaining two assets are Doncasters, a UK-based engineering group, and German alumina manufacturer Almatis....
...The firm, owned by Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum, is now focusing on selling its three European-based assets: Mauser; UK-based engineering group Doncasters; and German alumina manufacturer...
...DIC has already spent $300m in restructuring its highly leveraged portfolio of European assets – including Travelodge and Almatis, the German alumina business – but it has had its stake in Alliance Medical...
...However Alliance Medical is expected to be the last restructuring in DIC’s existing portfolio, having completed restructurings for German alumina business Almatis, Doncasters and Mauser, one of the people...
...Oaktree Capital, the US buy-out fund, is readying a counter-proposal for a restructuring of German alumina business Almatis, in a last ditch attempt to wrest control from Dubai International Capital....
...The Dubai theme persists – Mr Aulsebrook joins fresh from a battle with Oaktree over Dubai International Capital’s German alumina business Almatis, which he advised. people@ft.com...
...Chemical builds on a healthy track record of profitable exits for Rhône Capital, including its sale of the Early Learning Centre, the toy store chain, to Mothercare and the sale of Almatis, the German alumina...
...Dubai International Capital on Tuesday secured approval from a US bankruptcy court for its proposal to restructure the debts of Almatis, the German alumina business, after US distressed debt investor Oaktree...
...The fight over Almatis, the debt-laden German alumina business owned by Dubai International Capital, has turned ugly, as US distressed debt investor Oaktree revealed the terms on which it would capitulate...
...For DIC, the deal would provide cash to support its troubled buy-out portfolio, including Almatis, the German alumina producer; Alliance Medical, the diagnosis group; and Doncasters; the engineering company...
...Almatis, Dubai International Capital’s debt-laden alumina business, has filed for bankruptcy protection in the US in an attempt to implement a pre-packaged restructuring that would see it taken over by Oaktree...
...However, the alumina company has been hit hard by the global downturn and defaulted on its debt earlier this year....
...However, the alumina company has been hit hard by the global downturn and defaulted on its debt this year....
...Its latest battle is with Oaktree Capital, the US distressed debt and turnround investor, for control of Almatis, the German alumina producer....
...Its latest battle is with Oaktree Capital, the US distressed debt investor, for control of Almatis, the German alumina producer....
...It has also been involved in restructuring negotiations at Dubai International Capital’s alumina business Almatis and Spanish plastic packaging producer La Seda de Barcelona....
...The Frankfurt-based producer of speciality alumina products, spun out from Alcoa in 2004, has annual sales of about $500m and was bought for about $1.2bn by DIC in November 2007....
...Current holdings include Travelodge, the UK hotel chain, and German alumina producer Almatis. “Unlike some other funds, we don’t have any rotten apples in our portfolio,” the company said....
...DIC, which owns Travelodge, the UK budget hotel chain, and Almatis, a Germany-based alumina producer, has 80 per cent of its assets in the US and Europe with the remainder in the Middle East and Asia....
...The fund this month spent about $4bn in a clutch of deals: the £600m purchase of UK-based Alliance Medical, Almatis, a Germany-based alumina producer, an investment of more than $1bn for 10 per cent of the...
...In late March, Trevor Reid, finance director, described the LionOre deal as a ‘bolt-on’ and said he and Mr Davis were looking for bigger acquisitions in the iron ore, platinum and bauxite/alumina markets...
...State-owned Minmetals failed in its bid for Noranda of Canada. Haier, a white goods manufacturer, in July pulled out of the race for Maytag, the US maker of Hoover vacuum cleaners....
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