PRINT THIS PAGE US firms Fortress and Cerberus buy Boxclever from German bank WestLB18/01/2005. Source: AltAssets. 
 WestLB has confirmed that it has agreed to sell its interests in UK television rental company Boxclever Group to US private equity firms Fortress Investment Group and Cerberus Capital. Financial details have not been disclosed but reports say that the value of the deal is approximately €200m.
The sale is part of WestLB's strategy to dispose of non-core assets. When in 2003 a £750m securitisation for Boxclever collapsed, the bank decided to close its Principal Finance business, which was built up by Robin Saunders. Saunders left WestLB in December 2003.
Recently WestLB has also sold its interests in Pubmaster and Odeon cinemas and is currently in the process of selling its interest in Swan Capital, the holding company for Mid-Kent Water.
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