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Warburg Pincus-backed Car Rental Company CAR Lists on the Hong Kong Stock Exchange (Asia)
China-based car rental company CAR, which is backed by global private equity firm Warburg Pincus, listed on the Hong Kong Stock Exchange on 19 September. CAR, which raised US$468 million after pricing its IPO at the top end of its price range, increased the retail portion from ten percent to 50 percent of the offering after it was more than… Read More
Riverstone Holdings, EnCap Investments and Infraestructura Institucional Commit US$525 Million to Sierra Oil & Gas (Latin America)
Mexico-based exploration and production company Sierra Oil & Gas has received US$525 million in equity commitments from energy and power-focused private investment firm Riverstone Holdings, oil and gas private equity investor EnCap Investments and infrastructure-focused private equity firm Infraestructura Institucional. Riverstone and EnCap each committed US$225 million, while Infraestructura Institucional committed US$75 million. All three investors retain the option to double their… Read More
The Carlyle Group and Yunfeng Capital to Exit GDC Technology (Asia)
Global alternative asset manager The Carlyle Group and private equity firm Yunfeng Capital have agreed to exit China-based digital cinema equipment manufacturer GDC Technology as part of China-based movie studio Huayi Brothers Media’s acquisition of a controlling stake in the company. Huayi Brothers plans to increase its holdings to 79 percent through two stages of share purchases. First, Huayi Brothers… Read More
Global Environment Fund to Invest INR450 Million in Shakti Pumps (Asia)
Global alternative asset manager Global Environment Fund (GEF) has agreed to invest INR450 million (approximately US$7.4 million) in India-based submersible water pumps manufacturer Shakti Pumps India through an issue of compulsory convertible preference shares (CCPS). GEF will subscribe to 1.5 million CCPS at a price of INR300 (approximately US$4.91) per share. Upon converting the CCPS into equity shares, GEF will… Read More
Warburg Pincus Participates in a US$60 Million Financing Round for Quikr and a US$260 Million Round for Youxinpai.com (Asia)
India-based online classifieds business Quikr has secured a US$60 million financing round led by new investor Tiger Global Management. Existing investors Warburg Pincus, Kinnevik, Matrix Partners India, Norwest Venture Partners, Nokia Growth Partners, Omidyar Network and eBay also participated in the round. Quikr intends to use the funding for product development and expansion of its mobile business. Separately, Warburg Pincus… Read More
Delta Partners to Invest up to EUR10 Million in Virgin Mobile Central and Eastern Europe (CEE and CIS)
Management advisory and investment firm Delta Partners has signed an agreement to invest up to EUR10 million (approximately US$13.1 million) in mobile virtual network operator Virgin Mobile Central and Eastern Europe (VMCEE). This is part of a larger EUR40 million (approximately US$51.8 million) financing round for VMCEE that includes participation from development finance institutions International Finance Corporation and European Bank… Read More
KKR Agrees to Provide Structured Financing to GMR Holdings and to Acquire an Additional Stake in Tiga Pilar Sejahtera Food (Asia)
Global investment firm KKR has signed a term sheet to provide INR10 billion (approximately US$164.2 million) of structured long-term financing, with co-investors, to India-based GMR Holdings, the holding company for infrastructure business group GMR Infrastructure (GIL). GMR Holdings will then infuse funds in GIL in order to strengthen its balance sheet, support its funding requirement for projects and meet its financing… Read More
Sadara Ventures and Siraj Palestine Fund Invest US$3.2 Million in WebTeb (MENA)
Palestine-based WebTeb, the operator of an Arabic language health and lifestyle portal, has closed a US$3.2 million Series C financing round led by venture capital firm Sadara Ventures. Existing investors, including Palestine-focused fund manager Siraj Fund Management Company (SFMC), also participated. SFMC’s transaction was structured through Siraj Palestine Fund. WebTeb provides professional medical content online and via a mobile application,… Read More
Nexxus Capital-backed Grupo Hotelero Santa Fe Lists on the Mexican Stock Exchange (Latin America)
Grupo Hotelero Santa Fe-a platform created by Mexico-focused private equity firm Nexxus Capital, industrial conglomerate Grupo Chartwell and private equity real estate firm Walton Street Capital to operate and acquire hotels in Mexico-placed its shares on the Mexican Stock Exchange on 12 September at a price of MXN10 (approximately US$0.76) per share. The aggregate value of the offering, which consisted… Read More
Vantage’s Fund II Provides Mezzanine Funding to Austell Laboratories (Sub-Saharan Africa)
Mezzanine-focused private investment fund manager Vantage Capital has provided mezzanine financing to South Africa-based Austell Laboratories, a 100 percent black-owned pharmaceutical company. The transaction was structured through Vantage's Fund II. Austell intends to use the financing to fund its working capital needs and to expand its range of products. Financial details of the transaction were not disclosed. Read More
Syntaxis Capital Invests EUR15 Million in Glass-Team (CEE and CIS)
Syntaxis Capital, a provider of mezzanine financing in Central Europe, has invested EUR15 million (approximately US$19.4 million) in debt and equity in Poland-based Glass-Team, a manufacturer of fire-resistant glass used in commercial building facades, exterior and interior walls, windows and doors. The investment will support Glass-Team's European expansion and allow the company to pursue add-on acquisitions. Read More
Mekong Enterprise Fund II Exits Golden Gate (Asia)
Vietnam-focused private equity firm Mekong Capital has divested its stake in Vietnam-based restaurant chain operator Golden Gate. Mekong Capital originally invested US$1.5 million in Golden Gate via a convertible bond in April 2008. The investment was structured through Mekong Enterprise Fund II. Mekong Capital's exit resulted in a reported net return multiple of 9.1x and a gross IRR of 45.1… Read More