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Themes Investment Partners Exits Standard Water for US$218 Million (Asia)
China-focused private equity firm Themes Investment Partners has completed the sale of China-based Standard Water, a developer of sewage and wastewater treatment systems with 36 plants around China, to Hong Kong-listed water systems provider Beijing Enterprise Water Group (BEWG) for about US$218 million. Themes, which owned close to a 70 percent stake in the company, received both cash and shares… Read More
Qiming Venture Partners Leads US$15 Million Financing Round for Hangzhou Wacai Science (Asia)
Venture capital firm Qiming Venture Partners has led a US$15 million Series A funding round for China-based Hangzhou Wacai Science, a mobile app developer for personal finance management. Existing shareholders venture capital firms IDG Venture Partners and CDH Investments also participated in the round. The company intends to use the fresh capital to broaden its customer base. In 2013, Wacai… Read More
Private Equity-backed Lenta Raises US$952 Million in London IPO (CEE and CIS)
Russia-based hypermarket chain Lenta, which is backed by global private investment firm TPG, VTB's investment business VTB Capital and development finance institution European Bank for Reconstruction and Development (EBRD), began conditional trading on the London Stock Exchange on 28 February 2014. Lenta shareholders, led by TPG, raised US$952 million in the initial public offering (IPO), valuing the company at US$4.3… Read More
eBay Leads US$133.8 Million Round in Snapdeal With Participation From Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital (Asia)
India-based Jasper Infotech, which runs the online marketplace Snapdeal.com, has raised a US$133.8 million financing round led by existing investor global commerce and payments company eBay. Venture capital firms Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners and Saama Capital, as well as Intel Corporation’s venture capital arm Intel Capital, also participated in the round. This transaction brings funds raised… Read More
Catalyst Principal Partners Invests in Logistics and Equipment Company EFFCO Tanzania (Sub-Saharan Africa)
Private equity firm Catalyst Principal Partners has announced its acquisition of a majority stake in Tanzania-based heavy equipment rental and logistics company EFFCO Tanzania through a management-backed buyout. The investment will allow the company to scale up operations and expand the business in Tanzania and across East Africa. Financial details of the transaction were not disclosed. Read More
Amethis Finance and ERES Agree to Invest US$35 Million in Fidelity Bank Ghana (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, and Edmond de Rothschild Europportunities Management II (ERES), a subsidiary of private banking and asset management group Edmond de Rothschild Group, have agreed to invest US$35 million in Ghana-based commercial bank Fidelity Bank Ghana for a minority stake. The investment will be made alongside South… Read More
Axxess Capital Acquires a Stake in Cloud Storage Provider Star Storage (CEE and CIS)
CEE-focused investment manager Axxess Capital has purchased a stake in Romania-based cloud storage provider Star Storage. The transaction was structured through Axxess Capital’s Emerging Europe Accession Fund. Star Storage operates in Romania and Moldova, and intends to use the new capital to grow its capabilities to deliver cloud services, improve its operations and approach new market segments and geographies. Financial… Read More
Baring Private Equity Asia Sells Its 41.7 Percent Stake in Cardig Aero Services for US$93.5 Million (Asia)
Asia-focused private equity firm Baring Private Equity Asia (BPEA) has sold its 41.7 percent stake in Indonesia-based airfreight and passenger services provider Cardig Aero Services (CAS) to Singapore Airport Terminal Services, a ground handling and in-flight catering service provider at Singapore Changi Airport, for IDR1.1 trillion (approximately US$93.5 million). BPEA, structured through BPEA IV, originally invested approximately US$41 million in… Read More
Ashmore Colombia Exits Fiber Optic Network Cable Provider Lazus (Latin America)
A fund managed by Ashmore Colombia, a subsidiary of emerging market-focused investment manager Ashmore Group, has agreed to the sale of a 100 percent equity stake in Colombia-based telecommunications infrastructure company Lazus, formerly known as Promitel Colombia, to diversified telecommunications company Columbus International. Funds advised by Ashmore purchased Lazus from Promigas in January 2013. Financial details of the transaction were… Read More
The Abraaj Group Agrees to Acquire Cairo for Investment and Real Estate Development (MENA)
Global growth markets investor The Abraaj Group has signed an agreement with the controlling shareholders of Egypt-based education group Cairo for Investment and Real Estate Development to issue a mandatory tender offer on the Egyptian Stock Exchange to acquire 100 percent of the company’s shares. The price per share will not exceed EGP20.5 (approximately US$2.94). Post completion of the tender… Read More
IDFC Alternatives-led Consortium and Temasek Holdings Restructure Their Investment in GMR Energy (Asia)
A consortium of investors led by IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, and Singaporean investment company Temasek Holdings have agreed to restructure their existing investment in India-based GMR Energy, part of industrial conglomerate GMR Group, by purchasing INR11.4 billion (approximately US$183.2 million) in compulsorily convertible preference shares (CCPS) in India-based GMR Infrastructure, a GMR… Read More
Olympus Capital Asia and Kilimanjaro Advisors Agree to Finance Atria Convergence Technologies (Asia)
Olympus Capital Asia Credit, the credit arm of private equity firm Olympus Capital Asia, and investment management firm Kilimanjaro Advisors, structured through Kilimanjaro Credit Fund, have agreed to provide structured debt financing to India-based Atria Convergence Technologies (ACT), a provider of information, communications and entertainment through internet protocol, broadband, digital and analog TV. Previously, India Value Fund Advisors, a firm… Read More