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Saratoga Founders’ New Investment Fund Targets Indonesian Growth (Asia)
Indonesian private equity firm Saratoga Capital has listed an investment vehicle, Saratoga Investama Sedaya (SIS), on the Indonesia Stock Exchange, raising around US$151 million. The vehicle contains stakes in several of Saratoga Capital’s key holdings, including Adaro Energy and Tower Bersama Infrastructure. SIS sold 271 million new shares, representing approximately 10 percent of its post-issue share capital, at IDR5,500 per… Read More
BaltCap Invests in PostService Group (CEE and CIS)
BaltCap, a private equity and venture capital firm focused on the Baltic countries, has invested EUR1.5 million (approximately US$2 million) in PostService Group, a privately owned postal operator in Latvia. PostService Group operates forty parcel delivery and shipment terminals under the Mana Pasta Stacija brand name. BaltCap structured the investment through the BaltCap Latvia Venture Capital Fund. Read More
CITIC Private Equity Completes US$370 Million 3SBio Take-Private (Asia)
Chinese biotechnology company 3SBio has agreed to delist from the NASDAQ stock exchange after shareholders voted in favor of a take-private deal proposed by Chinese private equity firm CITIC Private Equity and the company’s CEO. The two parties, who own a combined 18 percent of 3SBio’s outstanding share capital, have agreed to buy the remaining shares at US$16.70 per share,… Read More
Foursan Group Exits Al-Isra Education & Investment (MENA)
Foursan Group, a private equity firm primarily focused on the Middle East region, announced its exit from Al-Isra Education & Investment, the Amman Stock Exchange-listed holding company that operates Jordan’s Al-Isra Private University. Al-Isra provides undergraduate and graduate degrees to nearly 6,500 students. Foursan Group originally invested in the company in 2005. Financial details of the transaction were not disclosed. Read More
Mitsubishi to Control Grain Company Los Grobo Ceagro do Brasil (Latin America)
Brazilian private equity firm Vinci Partners and Argentine agribusiness group Los Grobo have sold their 60 percent stake in Brazilian grain company Los Grobo Ceagro do Brasil to Japanese conglomerate Mitsubishi. Mitsubishi previously acquired a 20 percent stake in Ceagro in January 2012, resulting in a total ownership stake of 80 percent. The remaining 20 percent stake is owned by… Read More
CDF Capital Backs Chinese Horse Breeder (Asia)
Chinese private equity firm Shenzhen CDF Capital has participated in the RMB100 million (approximately US$16.3 million) Series B financing round of Chinese horse breeder Rider Horse. The latest investment follows the company’s August 2012 RMB120 million (approximately US$19.4 million) Series A financing round led by Hong Kong-based private equity and alternative asset investment firm SMC Capital China. Rider Horse breeds… Read More
Capital International Backs Philippines Media Conglomerate (Asia)
Emerging markets private equity firm Capital International Private Equity Funds (CIPEF) has invested PHP2.5 billion (approximately US$60.7 million) in Filipino media and entertainment company ABS-CBN. The funding is intended to expand ABS-CBN’s platform offerings, including its digital terrestrial television services. CIPEF will purchase Philippines Deposit Receipts (PDRs) issued by ABS-CBN at a 2.1 percent discount to the 45-day volume-weighted average. Read More
Actis Celebrates Ugandan Bank Sale (Sub-Saharan Africa)
Emerging markets private equity investor Actis has sold the majority of its 60 percent stake in Ugandan bank DFCU to Norfund, a Norwegian development finance institution, and Rabo Development, a subsidiary of Dutch banking group Rabobank. Actis had been managing the 60 percent stake on behalf of its former parent, U.K. development finance institution CDC Group, which chose to retain… Read More
Hony Capital Sells Down Holding in Jiangsu Phoenix Publishing & Media (Asia)
China-focused private equity firm Hony Capital has reduced its holding in Shanghai Stock Exchange-listed publishing company Jiangsu Phoenix Publishing & Media. Hony sold 25 million shares of Phoenix at a price range of RMB8 to RMB8.89(approximately US$1.29 to US$1.44) per share, for a total transaction value of roughly US$32.3 million to US$35.9 million. Hony originally invested RMB481 million (approximately US$77.8… Read More
Mid Europa Partners to Invest in Polskie Koleje Linowe (CEE and CIS)
Mid Europa Partners, a private equity firm focused on Central Europe and Turkey, has agreed to purchase a 100 percent stake in Polskie Koleje Linowe (PKL), a Polish mountain tourism firm. PKL operates skiing services in six locations in Poland, and intends to use the funding to expand its operations to additional locations. Financial details of the transaction were not… Read More
Partners Group Secures India Buyout (Asia)
Global private investment firm Partners Group has agreed to invest US$275 million in CSS Corp, an Indian IT services company. Following the investment, Partners Group will own an 80 percent stake in the company, taking over the 70 percent stake currently held by private equity firms SAIF Partners and Goldman Sachs Private Equity, as well as venture capital firm Sierra… Read More
Goldman Sachs Sells Final US$1.1 Billion Piece of Chinese Bank (Asia)
The private equity arm of global investment bank Goldman Sachs has sold the remainder of its stake, totaling 1.58 billion shares, in Industrial and Commercial Bank of China (ICBC) for US$1.1 billion. The divestment, which took place through a block share sale on the Hong Kong Stock Exchange, reportedly brings Goldman Sachs’s total return on its investment to US$9.9 billion… Read More