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EFG Hermes Sells a 19 Percent Stake in Damas International to Mannai Corporation for US$150 Million (MENA)
The private equity arm of Egyptian investment bank EFG Hermes has sold a 19 percent stake in United Arab Emirates-based jeweler Damas International to Qatar-based trade and services conglomerate Mannai Corporation for US$150 million. EFG Hermes and Mannai had acquired Damas in a transaction worth US$445 million in May 2012, of which EFG Hermes contributed US$85 million, delisting the company… Read More
TLG Exits Riverboat Cruise Business Compagnie Fluviale du Mekong (Asia)
Frontier markets-focused private equity investor TLG Capital has exited its investment in Cambodia-based luxury riverboat cruise business Compagnie Fluviale du Mekong (CFM) in a trade sale to CroisiEurope, a European tour operator. TLG Capital originally invested in the company in 2010. Financial details of the transaction were not disclosed. Read More
Resource Partners Invests in World Class Romania (CEE and CIS)
Funds under the management of Resource Partners have acquired a 71 percent stake in Romania-based fitness chain World Class Romania in a management buyout. The company plans to continue the expansion of its network in order to offer its members a greater choice of fitness locations and training experiences. Financial details of the transaction were not disclosed. Read More
CVC Completes IDR2.5 Trillion Matahari Department Store Stake Sale (Asia)
Private equity and investment advisory firm CVC Capital Partners has raised IDR2.5 trillion (approximately US$215 million) by reducing its stake in Indonesia-based retailer Matahari Department Store. CVC-owned Asia Color Company sold 190 million shares in Matahari, a 6.5 percent stake, at IDR13,100 (approximately US$1.13) per share. CVC, which originally bought a 73 percent stake in the company in 2010 at… Read More
Warburg Pincus Buys Additional Shares in Capital First (Asia)
India-based non-banking financial company Capital First has approved a capital increase of INR1.8 billion (approximately US$29 million) via a preferential allotment of shares to existing investors Warburg Pincus, a global private equity firm, and HDFC Standard Life Insurance, an India-based life insurance company. Warburg Pincus will subscribe to 8.3 million shares at INR154 (approximately US$2.48) per share, for a total… Read More
Private Equity-backed IHS Holding Secures US$490 Million in Equity and Debt Financing (Sub-Saharan Africa)
IHS Holding, a Nigeria-based pan-African telecommunications infrastructure company, has secured US$420 million in equity and US$70 million in debt in its latest financing round. Investors include existing shareholders pan-African fund manager Emerging Capital Partners, International Finance Corporation and Euronext Paris-listed telecom company Wendel. Also participating in the transaction were new investors: the IFC Global Infrastructure Fund (managed by IFC Asset… Read More
The Carlyle Group Agrees to Acquire ADT Korea From Tyco for US$1.93 Billion (Asia)
Global alternative asset manager The Carlyle Group has agreed to acquire a 100 percent stake in South Korea-based Tyco Fire & Security Services Korea and its subsidiaries (ADT Caps, Capstec and ADT Security), which form and operate the company’s Korean security business, ADT Korea, from Tyco, a global fire protection and security company, in a cash transaction valued at approximately… Read More
Themes Investment Partners Exits Standard Water for US$218 Million (Asia)
China-focused private equity firm Themes Investment Partners has completed the sale of China-based Standard Water, a developer of sewage and wastewater treatment systems with 36 plants around China, to Hong Kong-listed water systems provider Beijing Enterprise Water Group (BEWG) for about US$218 million. Themes, which owned close to a 70 percent stake in the company, received both cash and shares… Read More
Qiming Venture Partners Leads US$15 Million Financing Round for Hangzhou Wacai Science (Asia)
Venture capital firm Qiming Venture Partners has led a US$15 million Series A funding round for China-based Hangzhou Wacai Science, a mobile app developer for personal finance management. Existing shareholders venture capital firms IDG Venture Partners and CDH Investments also participated in the round. The company intends to use the fresh capital to broaden its customer base. In 2013, Wacai… Read More
Private Equity-backed Lenta Raises US$952 Million in London IPO (CEE and CIS)
Russia-based hypermarket chain Lenta, which is backed by global private investment firm TPG, VTB's investment business VTB Capital and development finance institution European Bank for Reconstruction and Development (EBRD), began conditional trading on the London Stock Exchange on 28 February 2014. Lenta shareholders, led by TPG, raised US$952 million in the initial public offering (IPO), valuing the company at US$4.3… Read More
eBay Leads US$133.8 Million Round in Snapdeal With Participation From Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital (Asia)
India-based Jasper Infotech, which runs the online marketplace Snapdeal.com, has raised a US$133.8 million financing round led by existing investor global commerce and payments company eBay. Venture capital firms Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners and Saama Capital, as well as Intel Corporation’s venture capital arm Intel Capital, also participated in the round. This transaction brings funds raised… Read More
Catalyst Principal Partners Invests in Logistics and Equipment Company EFFCO Tanzania (Sub-Saharan Africa)
Private equity firm Catalyst Principal Partners has announced its acquisition of a majority stake in Tanzania-based heavy equipment rental and logistics company EFFCO Tanzania through a management-backed buyout. The investment will allow the company to scale up operations and expand the business in Tanzania and across East Africa. Financial details of the transaction were not disclosed. Read More