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Beltone Financial Holding and a Group of Investors Submit a Tender Offer for Cairo-listed EFG Hermes Holding (MENA)
Beltone Financial Holding, an Egypt-based investment bank, New Egypt Investment Fund (NEIF), a fund controlled by Egyptian businessman Naguib Sawiris, and Beltone Capital Holding, an investment vehicle managed by Beltone Private Equity, have submitted a tender offer to acquire 20 percent of Cairo-listed investment bank EFG Hermes Holding. Under the terms of the offer, NEIF will acquire a 17.82 percent… Read More
EQT Partners Agrees to Sell Blizoo Macedonia to Telekom Austria (CEE and CIS)
Private equity firm EQT has agreed to sell Blizoo Macedonia, the Macedonian operations of Bulgaria-based cable TV operator Blizoo, to Austria-based telecommunications company Telekom Austria. Telekom Austria will use its existing cash flow to finance the deal, which is expected to close in Q3 2014. Financial details of the transaction were not disclosed. Read More
Lightspeed China Partners Closes a US$260 Million Venture Fund (Asia)
China-focused venture capital firm Lightspeed China Partners has completed fundraising for Lightspeed China Partners II with US$260 million in capital commitments, surpassing the vehicle’s target of US$220 million. The majority of investors in Lightspeed China Partners II were from the United States, including fund of funds manager Horsely Bridge Partners. Investors from Asia included Singapore’s sovereign wealth fund GIC. Lightspeed… Read More
Motilal Oswal PE Invests INR750 Million in Glass Wall Systems (Asia)
Private equity firm Motilal Oswal Private Equity has invested INR750 million (approximately US$12.5 million) for a minority stake in India-based Glass Wall Systems, a company that designs, manufactures and installs aluminum and glass facades for commercial and residential buildings. The transaction was structured through India Business Excellence Fund II. The company will use the capital to set up a processing… Read More
Actis and Ethos to Sell Stakes in Alexander Forbes (Sub-Saharan Africa)
Mercer, a subsidiary of United States-based professional services firm Marsh & McLennan, has agreed to acquire 34 percent of South Africa-based employee benefits company Alexander Forbes, which is backed by private equity firms Actis and Ethos Private Equity. Mercer will initially acquire a 14.9 percent stake at the time of Alexander Forbes’ listing on the Johannesburg Stock Exchange, scheduled for… Read More
CDH Investments and China Grand Pharmaceutical to Invest in Shanghai Weicon Optical (Asia)
China-focused alternative asset fund manager CDH Investments and Hong Kong-listed pharmaceutical manufacturer China Grand Pharmaceutical and Healthcare Holdings have agreed to invest US$69 million and US$25 million, respectively, in Shanghai Weicon Optical, a China-based contact lens and solutions manufacturer. Upon completing the subscription, China Grand Pharmaceutical and CDH Investments will hold 55 percent and 20 percent stakes, respectively, in the… Read More
Helion Venture Partners Leads a US$19 Million Financing Round for Housing.com (Asia)
Venture capital firm Helion Venture Partners has led an INR1.15 billion (approximately US$19 million) financing round for India-based Locon Solutions, owner of real estate portal Housing.com, with participation from venture capital firm Nexus Venture Partners and Qualcomm’s investment arm Qualcomm Ventures. Helion invested INR480 million (approximately US$8 million) in the round, while Nexus and Qualcomm put in INR430 million (approximately… Read More
Morningside Venture Capital Invests in Yooli.com (Asia)
Private equity and venture capital firm Morningside Venture Capital has invested more than US$50 million in China-based peer-to-peer lending website Yooli.com. Yooli, which reportedly has around 760,000 users, intends to use the investment for product development, technology upgrades and improving its credit rating system. The company previously raised US$10 million from venture capital firm SB China Venture Capital in November… Read More
The Abraaj Group Submits Tender Offer for Egypt-listed Cairo Medical Center (MENA)
Global growth markets investor The Abraaj Group has submitted a mandatory tender offer to acquire up to 100 percent of Egypt-listed private hospital Cairo Medical Center. The Abraaj Group plans to undertake a capital expenditure program at Cairo Medical Center with the objective of upgrading the medical facilities, installing new equipment throughout the hospital and investing in staff training. The… Read More
CDH Investments Participates in a US$100 Million Series C Financing Round for Tujia.com (Asia)
China-based vacation rental website Tujia.com has raised a US$100 million Series C financing round from existing investors venture capital firms CDH Investments, Lightspeed China Partners, GGV Capital, Qiming Venture Partners and CBC Capital, as well as from vacation rental companies HomeAway and Ctrip. New investor China-focused investment bank China Renaissance Capital also participated. Tujia operates a platform on which owners… Read More
SAIF Partners, Accel Partners and Network18 Invest INR1.5 Billion in Bigtree Entertainment (Asia)
India-based Bigtree Entertainment, which owns online entertainment ticketing website BookMyShow, has raised INR1.5 billion (approximately US$25 million) from venture capital firms SAIF Partners and Accel Partners and media company Network18. The transaction valued the company at more than INR10 billion (approximately US$166 million). Accel Partners previously invested INR1 billion (approximately US$18 million) in 2012. Bigtree Entertainment intends to use the… Read More
BlueRun Ventures, Northern Light Venture Capital and Heli Capital Invest US$30 Million in Taodangpu (Asia)
China-based online pawn shop Taodangpu has raised US$30 million in a Series B financing round from venture capital firms BlueRun Ventures, Northern Light Venture Capital and Heli Capital. Taodangpu runs two interconnected websites: online pawn shop Taodangpu.com and peer-to-peer lending platform 51dang.com. The start-up plans to use the investment to expand to cities beyond Beijing and Shanghai. Read More