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The Abraaj Group and PIC Exit Libstar in US$237 Million IPO (Sub-Saharan Africa)
South Africa-based food, beverage and household products manufacturer Libstar Holdings has raised ZAR3 billion (approximately US$237 million) in its initial public offering on the Johannesburg Stock Exchange. The offering, which priced at ZAR12.50 (approximately US$1) per share, included a ZAR1.5 billion (approximately US$119 million) primary offering and a ZAR1.5 billion (approximately US$119 million) secondary offering of shares by existing investors,… Read More
Helios-backed Vivo Energy Raises US$744 Million through Listing on LSE and JSE (MENA)
Vivo Energy, an Africa-focused retailer and marketer of Shell-branded fuels and lubricants, has raised GBP548 million (approximately US$744 million) through its initial public offering (IPO) on the London Stock Exchange. Vivo’s existing investors sold 332 million shares at GBP1.65 (approximately US$2.24) per share, valuing the company at GBP1.98 billion (approximately US$2.7 billion). Africa-focused private equity fund manager Helios Investment Partners… Read More
The Carlyle Group and TPG Lead US$1.9 Billion Investment in Baidu’s Financial Services Group (Asia)
A group of investors led by global alternative asset managers The Carlyle Group and TPG has agreed to invest US$1.9 billion in the financial services group of China-based Nasdaq-listed technology conglomerate Baidu. The group has subsequently been renamed as Du Xiaoman Financial. Other participants in the funding round include China-based life insurance company Taikang Group, Agricultural Bank of China’s asset… Read More
Vantage Capital Invests US$8 Million in Rosslyn Riviera (Sub-Saharan Africa)
Africa-focused mezzanine fund manager Vantage Capital has invested US$8 million in Rosslyn Riviera Shopping Mall, a retail center located in Nairobi, Kenya. Rosslyn Riviera’s tenants include Chandarana Supermarkets, Java House, News Café and Nairobi Hospital. Vantage invested through Vantage Mezzanine III. Read More
Cinven Acquires Partner in Pet Food from Pamplona Capital Management (CEE and CIS)
Pan-European private equity firm Cinven has agreed to acquire Hungary-based pet food manufacturer Partner in Pet Food (PPF) from alternative investment firm Pamplona Capital Management. Pamplona acquired PPF in 2015 from global private equity fund manager Advent International through Pamplona Capital Partners IV for EUR315 million (approximately US$339 million). Financial details of the transaction, which is subject to social organization… Read More
Sinovation Ventures Reaches US$500 Million Final Close for Fourth U.S. Dollar Fund (Asia)
China-focused venture capital firm Sinovation Ventures has reached a final close for its fourth U.S. dollar-denominated fund with US$500 million in capital commitments. Reportedly launched in February 2018, the fund has received commitments of US$50 million from Spain-based banking group BBVA and US$15 million from International Finance Corporation, as well as additional commitments from pension funds, funds of funds, a… Read More
FPT Retail Lists on HOSE (Asia)
FPT Retail, the digital retail arm of Vietnam-based information technology company FPT, has officially listed 40 million shares in the company on the Hochiminh Stock Exchange (HOSE) at VND125,000 (approximately US$5.47) per share. The company is backed by Vietnam-focused investment firms Dragon Capital Group and VinaCapital. Dragon Capital and VinaCapital invested in FPT Retail in 2017 and own 20 percent… Read More
Providence Equity Partners-backed Indus Towers to Merge with KKR- and CPPIB-backed Bharti Infratel (Asia)
Shareholders of India-based mobile telecommunications infrastructure operator Indus Towers have agreed to merge their respective holdings in the company into Bharti Infratel, another India-based telecommunications company. Indus Towers is owned by Bharti Infratel, U.K.-based mobile network company Vodafone, India-based telecommunications company Idea Cellular and private equity firm Providence Equity Partners. The transaction values the combined entity at INR715 billion (approximately… Read More
Sky9 Capital Reaches US$200 Million Final Close for Fund III (Asia)
China-focused early-stage venture capital firm Sky9 Capital has reached a final close for Sky9 Capital Fund III with US$200 million in capital commitments. Limited partners in the fund include institutional investors, family foundations and high-net worth individuals. The fund will invest mainly in China-based internet and technology companies. Read More
Manbang Raises US$1.9 Billion in Funding Round Led by SoftBank and China Reform Fund (Asia)
China-based truck-hailing company Manbang Group has raised US$1.9 billion in a funding round led by the SoftBank Vision Fund and China Reform Fund, an investment firm backed by China Reform Holdings and other Chinese state-owned institutions. Other participants in the round include investment firms Farallon Capital, Baillie Gifford, Sequoia Capital, Hillhouse Capital and GVC Capital, as well as strategic investors… Read More
Mubadala Investment Company and Mubadala Infrastructure Partners Exit 50 Percent Stake in Abu Dhabi Terminals (MENA)
Abu Dhabi state investor Mubadala Investment Company and emerging markets-focused infrastructure fund manager Mubadala Infrastructure Partners (MIP) have exited their joint 50 percent stake in Abu Dhabi Terminals (ADT), a United Arab Emirates-based port operator. The stake was purchased by the remaining shareholder in the company, United Arab Emirates-based port and industrial zone developer Abu Dhabi Ports. MIP acquired a… Read More
Cordiant Capital Leads US$79 Million Debt Financing for Brazil Tower Company (Latin America)
Emerging markets-focused private credit fund manager Cordiant Capital has led a group of three international lenders in providing US$79 million in senior-secured debt financing for Brazil-based wireless tower builder and operator Brazil Tower Company (BTC). The investment forms part of a round totaling US$104 million, the remaining US$25 million of which BTC expects to secure in the third quarter of… Read More