Dubai International Capital said to hire Goldman​, BofA​ ​for Doncasters ​sale​​

Dubai International Capital is working with advisers from Bank of America, Credit Suisse and Goldman Sachs to find potential buyers for UK-based engineering firm Doncasters Group, which could fetch over $2.2 billion, sources told Bloomberg.

A formal sale process is yet to begin, they said, adding that discussions are at an early stage.

Dubai International, the private equity firm owned by the emirate’s ruler Sheikh Mohammed bin Rashid Al Maktoum, is closing down after restructuring debt worth $2.5 billion, sources aware of the matter said in April.

The company has held Doncasters Group for about a decade, since it acquired the British aerospace parts-manufacturer from Royal Bank of Scotland for $923 million.

Representatives for Dubai International’s parent company Dubai Holding, Bank of America and Goldman Sachs declined to comment, while a representative for Credit Suisse had no immediate comment, the agency reported.