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Baring Private Equity Asia Acquires 5 Percent of Magic Holdings for HKD146 Million in PIPE Deal (Asia)
Hong Kong-based private equity firm Baring Private Equity Asia has acquired 50.4 million shares, representing a 5 percent stake, of Magic Holdings for HKD146.3 million (US$18.8 million). Magic Holdings, based in Guangzhou, is a manufacturer of skincare products sold under the MG brand. Baring acquired 15 percent of Magic for HKD451 million (US$58 million) in January 2012. Read More
Egeli & Co. Agriculture Investment Trust Buys 90.05 Percent of Doğa Tarım (CEE and CIS)
Egeli & Co. Asset Management, an independent Turkish asset management company, has announced that it purchased a 90.05 percent stake in the Turkish dairy farm Doğa Tarım Hayvancılık. The investment was made out of the Egeli & Co. Agriculture Investment Trust, a closed-end fund focused on investments in the agricultural sector. Egeli & Co. will acquire 1,801 shares for TRY3.2… Read More
AIF Capital Invests US$40 Million in Pacific Plas (Asia)
Hong Kong-based private equity firm AIF Capital has invested US$40 million in Pacific Plas, a Singapore-based resin distribution and consumer packaging company with operations in Indonesia, China, Malaysia, Singapore and Australia. AIF Capital made the investment through an issue of redeemable convertible preference shares. AIF Capital plans to support Pacific Plas’ acquisition efforts and enhance corporate governance and risk management… Read More
Paga Secures New Investments to Scale Money Transfer Services Nationwide (Sub-Saharan Africa)
Nigerian money transfer service Paga has secured new investments from a consortium of investors including Adlevo Capital, Omidyar Network, Acumen Fund, Capricorn Investment Group and current investor Goodwell West Africa Microfinance Development Company. Paga enables any person with a mobile phone or internet access to send cash to anyone in Nigeria, buy or send airtime credit, pay bills and make… Read More
The Africa Health Fund Managed by Aureos Invests in Togolese Private Hospital (Sub-Saharan Africa)
Global growth markets private equity fund manager Aureos has invested US$1.7 million in Clinique Biasa, a private hospital and clinic based in Togo. Aureos made the investment through the Africa Health Fund, a US$105 million fund which includes the Bill & Melinda Gates Foundation, IFC, the African Development Bank and DEG among its investors. The fund has made six investments… Read More
Brookfield Acquires 45 Percent of Chilean Highway Operator from Hochtief for EUR230 Million (Latin America)
German construction firm Hochtief AG has sold a 45 percent stake in Chilean toll highway operator Vespucio Norte Express (VNE) to a consortium led by Brookfield Infrastructure Partners for EUR230 million (US$290 million). VNE, in operation since January 2006, was developed by Hochtief under a BOT (build, operate, transfer) contract approved by the Chilean Ministry of Public Works in 2001.… Read More
Translink, Vangoo Back Chinese Mobile Ad Platform with US$12 Million (Asia)
Silicon Valley-based Translink Capital and Japan’s Vangoo Investment Partners have led a US$12 million Series B round of fundraising for Chinese mobile-based advertising platform Adwo. The new funding will be used to expand the company’s operations, and to open offices in Hong Kong and Japan. This investment follows a US$1 million Series A round in the first half of 2011. Read More
MARG Karaikal Port Attracts Equity Investment of INR1.3 Billion (Asia)
Standard Chartered Private Equity (SCPE) has purchased a minority stake in Karaikal Port Private Limited, a subsidiary of Indian infrastructure company MARG, for INR1.3 billion (approximately US$23 million) through both primary and secondary investments. The new capital will be used to expand the port’s capacity to 28 million metric tons per year from 21 million tons. Existing investors in Karaikal… Read More
ChrysCapital Sells over 9 Percent Stake in Balkrishna Industries for US$38 Million (Asia)
India-focused private equity firm ChrysCapital has exited the majority of its 9.59 percent stake in publicly-listed Balkrishna Industries. ChrysCapital sold over nine million shares in the manufacturer of off-highway tires for INR2.17 billion (approximately US$38 million). ChrysCapital originally acquired the stake in 2005. Read More
Just Dial Raises US$57 Million from Sequoia, SAP Ventures (Asia)
Global venture capital investors Sequoia Capital and SAP Ventures have invested INR3.27 billion (approximately US$57 million) in Just Dial, an Indian local search service that is available via web, phone or mobile internet. Sequoia Capital contributed INR3.05 billion (approximately US$53 million) to the latest financing round, representing its third investment in the company, while SAP Ventures invested INR220 million (approximately… Read More
Ares Makes Second Close on US$500 Million Asia Fund (Asia)
U.S.-based alternative asset manager Ares Management has held a second close on the Ares Corporate Opportunities Fund Asia with US$90 million in commitments. The fund is targeting US$500 million in total commitments. The private equity fund will be Ares’s first focused on Asia, where the firm has offices in Hong Kong and Shanghai. Read More
Cinven Invests in Pronet (CEE and CIS)
European private equity firm Cinven has announced that it has reached an agreement to acquire a majority stake in Pronet Güvenlik, a provider of security electronic alarm systems in Turkey. Cinven is purchasing its stake from Turkish private equity firm Turkven and the Dutch development bank FMO. The transaction, the financial details of which were not disclosed, is subject to… Read More