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The Carlyle Group and CITIC Complete Investment in McDonald’s China and Hong Kong Businesses (Asia)
Global alternative asset manager The Carlyle Group, China-based conglomerate CITIC and its alternative investment arm CITIC Capital Partners have completed their investment in fast food chain McDonald’s Corporation’s mainland China and Hong Kong businesses. The consortium had previously agreed to invest up to US$2.08 billion, with CITIC and CITIC Capital Partners owning a 52 percent stake and Carlyle owning a… Read More
SAIF Partners India Reaches US$350 Million Final Close for Third Fund (Asia)
India-focused venture capital firm SAIF Partners India has reached a final close for SAIF India Partners VI with US$350 million in capital commitments. The fund, which is the third raised by the firm since it spun out from SAIF Partners in 2011, will target seed, Series A and growth-stage opportunities primarily in consumer internet companies. Other sectors in the fund’s… Read More
IDFC Alternatives to Acquire India Solar Power Assets (Asia)
India-focused private equity and infrastructure fund manager IDFC Alternatives has reportedly agreed to acquire seven India-based solar power projects from U.S.-based global solar energy developer First Solar for INR19.5 billion (approximately US$304 million). IDFC will acquire the projects, which have a total capacity of 190 megawatts, through Vector Green Energy, a renewable energy platform backed by IDFC’s India Infrastructure Fund… Read More
I Squared Capital to Acquire Hutchison Global Communications (Asia)
Global infrastructure investment manager I Squared Capital has agreed to acquire 100 percent of Hutchison Global Communications (HGC), the fixed-line services unit of Hong Kong-based Hutchison Telecommunications, for a total consideration of HKD14.5 billion (approximately US$1.86 billion). HGC, which operates more than 1.4 million kilometers of fiber optic networks and 25,000 wireless internet hotspots, will partner with I Squared to… Read More
Warburg Pincus-backed Omega Geração Raises US$268 Million in IPO (Latin America)
Brazil-based renewable energy company Omega Geração has raised a total of BRL884 million (approximately US$281 million) in its initial public offering (IPO) on the Novo Mercado segment of B3 (formerly BM&FBOVESPA). The offering totaled 54 million shares, including a primary offering from Omega and a secondary offering of shares by global private equity firm Warburg Pincus. Warburg, which originally invested… Read More
Convergence Partners Exits DiData (Sub-Saharan Africa)
Africa-focused TMT investment management firm Convergence Partners has exited its stake in South Africa-based information technology (IT) services company Dimension Data Middle East & Africa (DiData). The company provides digital infrastructure, network, cybersecurity and other IT management services to businesses in the region. Convergence originally invested in DiData in 2004. Financial details of the transaction were not disclosed. Read More
Advent International to Invest in Dixcy (Asia)
Global private equity firm Advent International has agreed to acquire a significant stake in India-based innerwear company Dixcy Textiles. The company, which manufactures and retails innerwear, hosiery and casual wear under various brands in India, plans to partner with Advent to expand operations through organic growth and international expansion. Financial details of the transaction were not disclosed. Read More
WeWork, SoftBank Group and Hony Capital to Invest US$500 Million in WeWork China (Asia)
U.S.-based co-working space operator WeWork will partner with SoftBank Group and China-focused private equity firm Hony Capital to invest US$500 million to establish WeWork China. The new platform will enable WeWork to expand its operations into new cities in China and increase its current footprint in Beijing, Hong Kong and Shanghai. WeWork will be responsible for management and operations of… Read More
The Abraaj Group Acquires Minority Stake in Netlog (CEE and CIS)
Global growth markets investor The Abraaj Group has acquired a significant minority stake in Turkey-based integrated logistics company Netlog. The company, which offers a full suite of supply chain and logistics solutions, including warehousing, domestic and international trucking and air and sea freight forwarding, plans to partner with Abraaj to accelerate its growth by investing in infrastructure and expanding operations… Read More
Mekong Capital Partially Exits Loc Troi Group for US$9.1 Million (Asia)
Vietnam-focused private equity firm Mekong Capital has partially exited Vietnam-based agricultural products company Loc Troi Group (formerly known as An Giang Plant Protection) via its listing on the Unlisted Public Company Market (UPCoM) exchange. Mekong, which originally invested in Loc Troi in 2008 through Vietnam Azalea Fund, sold approximately 3.1 million shares, reducing its stake from 6.1 percent to 1.5… Read More
KKR to Invest in LS Group Subsidiaries (Asia)
Global investment firm KKR has agreed to acquire a 47 percent stake in LS Automotive, the electrical auto parts subsidiary of Korea-based conglomerate LS Group, and a 100 percent stake in LS Group affiliate LS Mtron‘s copper foil and flexible copper-clad laminate business. LS Group will retain a 53 percent stake in LS Automotive under a new joint venture holding… Read More
Helios Investment Partners Acquires Fertilizers and Inputs Holdings (Sub-Saharan Africa)
Africa-focused private investment firm Helios Investment Partners has acquired 100 percent of Fertilizers and Inputs Holdings, the Africa-focused agricultural supplies and chemicals subsidiary of multinational agricultural conglomerate Louis Dreyfus Company, for a reported US$200 million. The company, which distributes fertilizers, crop protection products, seeds and industrial chemicals primarily in West Africa, plans to partner with Helios to expand operations and… Read More