Doncasters Group Limited, has been put up for auction for around £1.2 billion by Dubai's sovereign wealth fund after the business suffered a sharp downturn. Private equity firms and turnaround funds have been invited to bid for the Doncasters' business by Dubai International Capital L.L.C. Melrose Bancorp, Inc., has discussed a bid for Doncasters, multiple City sources said. However a Melrose spokesman denied the company had expressed an interest, calling it a "colourful rumour".