Darby Exits Leadcorp, Leads Investment in Oleoducto Central (Asia, Latin America)

Source: Darby Overseas Investments, Pacific Rubiales

Darby Overseas Investments, the private equity arm of Franklin Templeton Investments, has divested its equity holding in South Korea-based consumer finance company Leadcorp through sales on the KOSDAQ exchange. Darby first invested in Leadcorp in 2007 in the form of senior secured notes and common shares, making follow-on investments through senior secured notes in 2010 and 2011. Financial details of the exit were not disclosed. Separately, Darby reached an agreement to lead a consortium of investors to acquire a five percent interest and transportation rights in the Colombia-based Oleoducto Central oil pipeline from Pacific Rubiales, a Canada- and Colombia-listed producer of natural gas and crude oil, for a total cash consideration of US$385 million. The transaction, which is expected to close in early 2014, will be structured through Darby’s Fondo de Infraestructura de Transporte de Colombia.