PRINT THIS PAGE ABN Amro Capital buys Global Garden Products for E555m23/10/2003. Source: AltAssets. 
 Dutch ABN Amro Capital is to acquire Global Garden Products for E555m from Swiss UBS Capital. The investment bank has beaten rivals including Permira and French buy-out firm PAI in a protracted auction run by Morgan Stanley.
Global Garden Products manufactures and distributes lawnmowers and other garden equipment in markets including Eastern Europe, Russia and the US. The firm is headquartered in Italy and generated revenues of E520m in the year ending August 31, 2003.
UBS has determined to reduce its commitments to direct private equity investments following a series of write-downs, including CHF389m in the fourth quarter of 2002, and is focusing on managing existing assets and capitalising on exit opportunities as they arise.
UBS Capital's private equity investments, including fund investments, stood at CHF3.1bn at the end of 2002, a 38 per cent decline from CHF5bn the previous year.
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