GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
Hony, Suning to Take Controlling Stake in China-based PPTV for US$420 Million (Asia)
China-focused private equity firm Hony Capital and home appliance retailer Suning Commerce, one of Hony’s portfolio companies, will purchase a controlling interest in China-based online TV provider PPTV for US$420 million, valuing PPTV at approximately US$568 million. Suning will pay US$250 million to buy a 44 percent stake in PPTV, becoming the largest shareholder, while Hony will invest the remaining… Read More
KKR to Invest US$90 Million in Indian Hospital Operator (Asia)
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) will invest about US$90 million in India-based hospital operator Apollo Hospitals Enterprise through a subscription to convertible debentures issued by Apollo Hospitals’ parent PCR Investments. Per the agreement, KKR will have an option to convert these debentures into equity shares after five years, and the Indian founders will have the right… Read More
Brazil-based Technology Startup ContaAzul Receives Series B Investment (Latin America)
Venture capital firms Monashees Capital, Ribbit Capital, 500 startups, Napkin Ventures and Valar Ventures have participated in a Series B funding round in Brazil-based technology startup ContaAzul. The company, which owns a management system aimed at small companies, previously raised a Series A round in January 2013. ContaAzul intends to use the capital injection to accelerate the company’s expansion and… Read More
Foursan Group Acquires a 37 Percent Stake in Jordan-Based ATICO (MENA)
Foursan Group, a private equity firm primarily focused on the Middle East region, has acquired a 37 percent stake in Jordan-based ATICO—Fakhreldin Group, a holding company operating in multi-service hospitality management. ATICO intends to use the capital injection to fund local and regional expansion and to grow and diversify the group’s revenue streams. Financial details of the transaction, which was… Read More
CDH Investments Backs Wacai.com and Gewara.com (Asia)
International alternative asset fund manager CDH Investments has participated in a US$3 million funding round in China-based financial management application Wacai.com. The company, which recently acquired retail finance consulting firm Trust Analytics, has developed two mobile apps reportedly used by more than 40 million people to manage daily spending. Last month, the company received a Series A funding round worth… Read More
Danone to Join The Abraaj Group in the Acquisition of Fan Milk International (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has announced a partnership agreement whereby French food-products corporation Danone will join in the acquisition of Fan Milk International (FMI), a manufacturer and distributor of frozen dairy products and juices in West Africa. The Abraaj Group and Danone will respectively acquire a 51 percent and 49 percent stake in FMI, which intends to… Read More
Amethis Finance to Inject Fresh Capital in UT Bank Operations (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, has agreed to provide a US$10 million subordinated loan to Ghana-listed banking institution UT Bank. UT Bank intends to use the capital injection to grow its lending to the SME sector and extend the tenure of its loans. The transaction is subject to approval from… Read More
Innova Capital Acquires Wirtualna Polska for PLN375 Million (CEE and CIS)
Central Europe-focused mid-market private equity firm Innova Capital, through its special purpose vehicle European Media Holding, will finance the acquisition of Poland-based internet portal Wirtualna Polska from Polish Orange subsidiary Telekomunikacja Polska. The transaction, which was reportedly structured through Innova/5, is valued at PLN375 million (approximately US$123.2 million). As part of the deal, Wirtualna Polska will merge with Poland-based internet… Read More
Tata Capital Funds Invest in Three Indian Companies (Asia)
Tata Capital, the private equity arm of the Indian conglomerate Tata Group, has invested in three separate India-based companies: television services operator Tata Sky, financial products and services distributor IFMR Rural Channels and Services (IRCS) and personalized cancer care and rational drug developer Mitra Biotech. In the largest of the three deals, Tata Opportunities Fund picked up a five percent… Read More
Helios to Invest US$100 Million in Global Credit Provider Bayport Management (Sub-Saharan Africa)
Pan-African private equity firm Helios Investment Partners will invest US$100 million in Mauritius-listed Bayport Management (BML), provider of unsecured credit and other financial solutions in Africa and Latin America. BML will use the funding to partially finance its acquisition of Bayport Financial Services South Africa (BFS) from financial services group Transaction Capital for an enterprise value of ZAR1.6 billion (approximately… Read More
IL&FS Sells Stakes in Jyothy Fabricare and Gujarat Pipavav Port (Asia)
India-focused private equity fund manager IL&FS Investment Managers Limited (IIML) is selling its stake in India-based laundry business Jyothy Fabricare Services. Jyothy’s board has approved the acquisition of 3.3 million Compulsorily Convertible Cumulative Participatory Preference Shares (CCCPPS) at INR10 (approximately US$0.16) each and 50,000 equity shares from the private equity firm. IIML originally invested INR1 billion (approximately US$21 million) at… Read More
Vinci Partners and P2 Brasil to Buy CBO and Estaleiro Aliança (Latin America)
Brazil-focused alternative investment and asset management firm Vinci Partners and P2 Brasil, a partnership of Pátria Investimentos and Promon, have signed a deal to buy Brazil-based offshore shipping company Companhia Brasileira de Offshore (CBO) and shipyard Estaleiro Aliança, both previously controlled by Fischer group, a multinational Brazilian company involved in the logistical operation of support vessels to maritime petroleum platforms.… Read More