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CDH Investments Reduces Stake in WH Group via Distribution in Kind to Investors (Asia)
China-focused private equity firm CDH Investments has partially exited its stake in China-based pork producer WH Group via a distribution in kind to applicable investors of 537.2 million shares representing a 3.7 percent stake in the company. The shares are worth approximately HKD3.36 billion (approximately US$433 million). CDH continues to hold a 9.3 percent stake in WH Group. Read More
Hyundai Commercial & Affinity Equity Partners-led Consortium to Acquire Hyundai Card Company (Asia)
Hyundai Commercial, an affiliate of South Korea-based Hyundai Motor Group, and a private equity consortium led by Asia-focused fund manager Affinity Equity Partners have agreed to acquire a combined 43 percent stake in South Korea-based Hyundai Card Company from General Electric. Hyundai Commercial and the Affinity-led consortium, which includes Singaporean sovereign wealth fund GIC and global fund of funds manager… Read More
Jacob Ballas and New York Life Investment Management to Invest US$50 Million in CentrumDirect (Asia)
Private equity advisory firm Jacob Ballas Capital India and New York Life Investment Management (NYLIM) have agreed to acquire a minority stake in CentrumDirect, the foreign exchange business unit of Bombay Stock Exchange-listed financial services company Centrum Capital. The firms will reportedly invest US$50 million for a 30 percent stake in the company, with NYLIM committing US$20 million to the… Read More
EXEO Capital Holds First Close for Agri-Vie Fund II (Sub-Saharan Africa)
Pan-African private equity investment firm EXEO Capital has reached a first close for Agri-Vie Fund II with more than US$100 million in capital commitments. The fund, which is targeting US$150 million to US$200 million in total commitments, will focus on the food and agribusiness sector in Sub-Saharan Africa. Read More
ARX Equity Partners to Acquire Nutricia Deva (CEE and CIS)
ARX Equity Partners, a private equity fund manager focused on mid-sized companies in Central Europe, has agreed to acquire Czech Republic-based baby fruit desserts and fruit drinks producer Nutricia Deva from France-based food company Danone Group. ARX will invest through its fourth private equity fund alongside food industry entrepreneur Keith Dilworth. As part of the transaction, Deva will continue to manufacture… Read More
3i Group, Neuberger Berman and Siguler Guff to Exit Óticas Carol for US$118 Million (Latin America)
Private equity investors 3i Group, Neuberger Berman and Siguler Guff & Company have agreed to sell their interests in Brazil-based eyewear retailer Óticas Carol as part of an EUR100 million (approximately US$118 million) acquisition of 100% of the company by Italy-based eyewear group Luxottica. 3i, Neuberger Berman and Siguler Guff originally invested in Óticas Carol in 2013. The transaction, which… Read More
Inspired Evolution Exits Four Renewable Energy Investments (Sub-Saharan Africa)
Inspired Evolution Investment Management, an Africa-focused investment advisory firm specializing in clean energy infrastructure and resource efficiency, has sold its stakes in South Africa-based renewable energy projects Slimsun Swartland Solar Park, Kouga Wind Farm and Solar Capital De Aar to South Africa-based TriAlpha Investment Management. The firm’s interest in Solar Capital De Aar was held through Fifth Season, a black… Read More
AfricInvest Invests US$18 Million in Azalaï Hotels (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest has invested EUR17.3 million (approximately US$18 million) in Mali-based hospitality group Azalaï Hotels. AfricInvest invested through AfricInvest III. Azalaï will use the new funds to expand across West Africa, increase capacity and upgrade service. Read More
Mezzanine Management Invests in Flucar (CEE and CIS)
Mezzanine Management, an investment advisory firm focused on Central and Eastern Europe, has invested PLN40 million (approximately US$9.9 million) for a 33 percent stake in Poland-based motor oils manufacturer Flucar. As part of the deal, Mezzanine, which invested through Accession Mezzanine Capital III, has the option to increase its stake to a larger minority holding in the future. Flucar plans… Read More
Blackstone Group to Sell Stake in Sonalika Tractors to Yanmar for US$250 Million (Asia)
The Blackstone Group has agreed to sell its 17.75 percent stake in India-based International Tractors, the owner of the Sonalika farm equipment brand, to Japan-based agricultural machinery and industrial engineering group Yanmar for INR17 billion (approximately US$250 million). Blackstone originally invested in the company in 2012 through Blackstone Capital Partners VI. Read More
Koubei Raises US$1.1 Billion from Silver Lake, CDH Investments, Yunfeng Capital and Others (Asia)
Global technology-focused investor Silver Lake and China-focused private equity and venture capital firms CDH Investments, Yunfeng Capital and Primavera Capital Group have led a US$1.1 billion round for Koubei, Alibaba Group Holding’s China-based e-commerce services platform. Sovereign wealth fund China Investment Corporation also invested approximately US$150 million in the round. Koubei provides online-to-offline services including marketing, payments and booking to… Read More
The Abraaj Group to Acquire Majority Stake in Jhimpir Power (Asia)
Global growth markets investor The Abraaj Group has agreed to acquire a majority stake in Pakistan-based Jhimpir Power (JPL) from Asia- and MENA-focused renewable power developer and investor Burj Capital. JPL wholly owns a 50 megawatt wind power project in the Jhimpir wind corridor in southeast Pakistan. The project is expected to commence operations in the first quarter of 2018.… Read More