GERMANY - PE interested in Almatis

A group of investors including distressed specialist fund Oaktree Capital, the Carlyle Group, Commerzbank, UBS, Harbourmaster and SMBC hold approximately $700m of the company's senior debt. The creditors are being advised by Rothschild.

The Frankfurt-based company reports annual sales of around $500m and is in the process of negotiating the restructuring of its $1.1bn debt. The company has appointed Close Brothers to assist with the process.

In 2004, Almatis spun out from Alcoa and DIC acquired it in November 2007 for an approximate $1.2bn.

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• Buyouts
• DACH