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Orchid Asia Sells LifeTech Stake to Medtronic (Asia)
Hong Kong-based private equity firm Orchid Asia Group Management has agreed to sell 95 million shares, equivalent to a 19 percent stake, in Hong Kong-listed Chinese medical device manufacturer LifeTech Scientific Corporation to U.S.-based medical technology company Medtronic. The deal is valued at HKD361 million (approximately US$46.6 million). Medtronic also purchased a convertible note, representing a 7.4 percent equity stake,… Read More
JCDecaux to Acquire 25 Percent of Russ Outdoor (CEE and CIS)
VTB Capital, the investment arm of Russian financial services firm VTB Group, has announced an agreement to sell a 25 percent stake in Russ Outdoor, a local outdoor advertising company, to French global outdoor advertising company JCDecaux. Under the terms of the transaction, which is pending anti-monopoly approval, JCDecaux will merge the Russian assets of its subsidiary BigBoard with Russ… Read More
Union Global Partners Completes Its Capitalization of Union Bank of Nigeria with US$500 Million of Equity (Sub-Saharan Africa)
Union Global Partners, a consortium of Nigerian and international investors, has invested US$500 million in Union Bank of Nigeria for 65 percent of the bank’s outstanding common shares. Union Global Partners was formed to recapitalize the bank and is comprised of six core investors: private equity firms African Capital Alliance, Corsair Capital and Standard Chartered Private Equity, Dutch development finance… Read More
Legend Capital Invests in Outbound Travel Agency (Asia)
Legend Capital, one of the private equity arms of Chinese investment firm Legend Holdings, has invested RMB500 million (approximately US$79.4 million) in Air China Travel Service, a provider of outbound travel products in China, which the company offers from 20 locations in the country. Legend Capital currently manages five USD-denominated and two RMB-denominated private equity funds with over RMB13 billion… Read More
Affinity Secures First Indonesia Deal (Asia)
Asia-focused private equity firm Affinity Equity Partners has invested approximately US$100 million in Indonesian auto services group Mitra Pinasthika Majesty (MPM) for an unspecified minority stake. MPM is the franchisee for Honda motorcycles in east Java and reportedly operates 280 showrooms, 600 workshops and more than 1,200 spare parts outlets throughout the country. Affinity’s investment will be used to help… Read More
International Finance Corporation Invests in Russian, Turkish Private Equity Funds (CEE and CIS)
International Finance Corporation has announced a US$20 million investment in Russian private equity fund Elbrus Capital Fund II and a EUR15 million (approximately US$19.4 million) investment in Turkish private equity fund Mediterra Capital Partners I. Elbrus Capital Fund II, managed by Russian private equity firm Elbrus Capital, is targeting US$500 million in commitments and seeks to invest in mid-cap growth… Read More
Kinea Raises US$490 Million for Fund II (Latin America)
Kinea Investimentos, the alternative asset management arm of Brazilian financial services group Itaú Group, has announced the final close of its second Brazil-focused private equity fund, Kinea II Private Equity Fund, with BRL1 billion (approximately US$490 million) in commitments. The firm raised the fund entirely from domestic sources of capital through two vehicles: a BRL800 million (approximately US$390 million) vehicle… Read More
Courts Asia Debuts on the Singapore Exchange (Asia)
Singapore-based electronics and furniture retailer Courts Asia, a portfolio company of Asian private equity firm Baring Private Equity Asia, made its debut on the Singapore Exchange on 8 October 2012. Courts Asia offered 178 million shares, 44 percent of which were purchased by four cornerstone investors: JF Asset Management, New Silk Road Investment, Target Asset Management and Value Partners Hong… Read More
RDIF Invests in IPO of Russia’s MD Medical Group (CEE and CIS)
The Russian government’s equity investment fund, Russian Direct Investment Fund (RDIF), has announced the investment of US$50 million, along with global asset manager BlackRock, Russia-focused private equity firm Russia Partners, a wholly owned subsidiary of Siguler Guff & Company, and other institutional investors in MD Medical Group (MDMG), a Russian healthcare provider, as part of its IPO on the London… Read More
Partners Venture Capital Buys Stake in South Korea’s Panax Etec (Asia)
South Korean venture capital firm Partners Venture Capital has acquired a 10 percent stake in South Korean battery electrolyte manufacturer Panax Etec for KRW10 billion (approximately US$9 million). The investment took place through a secondary purchase from investors Samsung Venture Investment and Bokwang Investment, both of whom partially exited their stakes in the company. Read More
Everstone Capital to Invest US$38 Million in Publishing Firm S. Chand & Company (Asia)
Indian private equity and real estate investor Everstone Capital is investing INR2 billion (approximately US$37.8 million) in S. Chand & Company, an Indian publisher of educational materials, for a reported 35 percent stake. The investment was made through the Everstone Capital Partners II private equity fund. S. Chand & Company plans to use the capital to fund an inorganic growth… Read More
Baring India Raises Stake in Manappuram Finance (Asia)
India-focused private equity firm Baring Private Equity Partners (BPEP) India has increased its holding in Indian non-banking financial company Manappuram Finance. BPEP India purchased 10.3 million shares of Manappuram on the Bombay Stock Exchange and the National Stock Exchange, amounting to a 1.23 percent equity stake. Following the transaction, which took place in several tranches, BPEP India now holds a… Read More