Mexican private equity firm EMX Capital has acquired a majority stake in AG Convertidora, a Mexican manufacturer of flexible packaging. AG Convertidora will use the investment for working capital needs, as well as to acquire additional equipment, develop its product line and strengthen its client relationships. Financial terms of… Read More
Chinese e-commerce company Alibaba Group Holding has announced the completion of its initial US$7.6 billion share repurchase from Yahoo!. Yahoo! received US$6.3 billion in cash, US$800 million worth of preferential shares in Alibaba and US$550 million in connection with the amendment to their intellectual property and technology agreement in… Read More
The African Development Bank (AfDB) has invested US$7 million in the Pan African Housing Fund (PAHF), an Africa-focused fund managed by private equity fund manager Phatisa Group. The fund will invest in lower-middle and middle class residential housing in African urban areas. Shelter-Afrique, an African housing finance and development… Read More
IDFC Private Equity, the private equity arm of Indian alternative asset manager IDFC Alternatives, has invested INR1.55 billion (approximately US$28.8 million) in Indian milk producer Parag Milk Foods through IDFC Private Equity Fund III. Existing investor Motilal Oswal Private Equity, the private equity arm of Indian financial… Read More
The European Bank for Reconstruction and Development (EBRD) has announced its first investments in Jordan, Morocco and Tunisia. The EBRD has committed EUR20 million (approximately US$26.2 million) to the Maghreb Private Equity Fund III, a North Africa-focused private equity fund managed by Tunisia-based AfricInvest-TunInvest Group, which is targeting EUR200… Read More
U.S.-based private investment firm H.I.G. Capital has acquired Cel Lep Idiomas (Cel Lep), a Brazilian English language teaching company. Cel Lep owns 17 schools and operates an additional four in the Brazilian states of São Paulo and Minas Gerais. Financial terms of the acquisition were not disclosed. Read More
Global growth equity investor General Atlantic has invested US$44 million in Turkish online food ordering service provider Yemeksepeti.com for a minority stake. Endeavor Catalyst, a philanthropic investment vehicle supporting entrepreneurs in global markets, also participated in the investment. Yemeksepeti.com allows its 1.5 million registered users in both Turkey and… Read More
Gávea Investimentos, a Brazilian asset management company, has purchased a 29.8 percent stake in Chilli Beans, a local retailer of accessories such as sunglasses. Gávea will be accorded a seat on the company’s board of directors, while Chilli Beans founder Caito Maia will remain head of the… Read More
Global emerging markets private equity firm Citi Venture Capital International (CVCI Private Equity) has exited its stake in Chinfon Vietnam, a Vietnamese cement manufacturer. CVCI sold its stake, which it originally acquired in 2008, through a strategic sale to an undisclosed investor, reportedly generating a return multiple… Read More
The Overseas Private Investment Corporation (OPIC) has approved US$360 million in financing for three private equity funds targeting investments in Africa, Indonesia and Russia. OPIC has earmarked up to US$150 million each for African Development Partners II, an African private equity fund managed by Development Partners International, and Elbrus… Read More
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