Dubai International Capital LLC, the private equity unit of Dubai Holding, agreed to sell German packaging company Mauser to Clayton, Dubilier & Rice for about $1.7 billion in the emirate’s biggest asset sale since the debt crisis.

Mauser, acquired by DIC in 2007 in a deal valuing the company at about $1.1 billion, has consolidated revenue of more than $1.6 billion, DIC said in an e-mailed statement. The packager operates in 18 countries, up from 12 in 2007, DIC said.

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