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Southern Cross Group Agrees to Acquire Petrobras Chile Distribución for US$490m (Latin America)
Latin America-focused private equity firm Southern Cross Group has agreed to acquire 100 percent of Petrobras Chile Distribución (PCD), the Chile-based distribution subsidiary of Brazilian state-owned oil company Petrobras, for approximately US$490 million. PCD owns 279 service stations, eight fuel distribution terminals, operations in 11 airports, one lubricants plant and stakes in two logistics companies. The transaction is subject to… Read More
CDIB Capital Invests in Best Logistics Technologies (Asia)
CDIB Capital, the international private equity arm of China Development Financial, has participated in a US$45 million investment in China-based integrated logistics and supply chain management service provider Best Logistics Technologies. Other co-investors in the round were not disclosed. Best Logistics plans to use the capital to expand core operations and develop adjacent business initiatives. Read More
Adenia Partners Invests in Pharmaceutical Distributor Opham (Sub-Saharan Africa)
Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, has backed Opham, a Madagascar-based pharmaceutical products wholesaler. The transaction was structured through Adenia Capital III. Development finance institution FMO and a family office also participated in the round. Financial details of the transaction were not disclosed. Read More
IDFC Alternatives Invests US$70 Million to Form an India-focused Renewable Energy Platform (Asia)
India-focused private equity firm IDFC Alternatives has invested approximately US$70 million in a portfolio of operating solar and wind assets to kick-start the formation of an India-focused renewable energy platform. IDFC Alternatives will structure the platform similar to Highway Concessions One, its platform for managing road assets. The transaction is subject to regulatory approval. Read More
Gulf Capital Acquires 100 Percent of Food and Beverage Distributor Multibrands Trading (MENA)
Middle East-focused alterative investment firm Gulf Capital has acquired 100 percent of Saudi Arabia-based food and beverage distribution company Multibrands Trading. Gulf Capital plans to grow the business through geographic diversification and product expansion. Financial details of the transaction were not disclosed. Read More
Morgan Stanley PE Asia Partially Exits AMTD to China Minsheng International and LR Capital (Asia)
Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) has partially exited Hong Kong-based financial advisor AMTD to China-based investment firms China Minsheng International and LR Capital Group. With Minsheng and LR Capital’s entry, MSPEA reduced its holding in AMTD to 9.9 percent, returning a reported US$94.2 million including dividends. MSPEA originally acquired a majority stake in the company… Read More
BlackPeak Capital & GlobeCap Investment Back Bulgaria-based Tour Operator Astral Holidays(CEE & CIS)
Bulgaria-focused growth private equity firm BlackPeak Capital and GlobeCap Investment, the Bulgarian subsidiary of Saudi Arabia-based investment firm ID Global, have acquired a minority stake in Bulgaria-based tour operator Astral Holidays International for a reported BGN2.5 million (approximately US$1.4 million). Astral plans to use the funding to develop its incoming, outgoing and corporate business segments, implement new technologies to modernize… Read More
Emerging Investment Partners Participates in US$17M Acquisition of Diamond Meat Processing (MENA)
MENA-focused private equity firm Emerging Investment Partners (EIP) has participated in the US$17 million acquisition of United Arab Emirates-based Diamond Meat Processing, a food producer that operates under the Almasa brand, from Dubai-based investment company Al Ghuarair Group. Other investors included Jordan-based meat producer Siniora Food Industries and several undisclosed investors. With support from the new investors, Almasa plans to… Read More
Nida Rooms Raises a US$4.2 Million Round from Convergence Ventures and CyberAgent Ventures (Asia)
Indonesia-based budget hotel aggregator Nida Rooms has raised US$4.2 million in a pre-Series A financing round from Indonesia-focused early-stage technology venture capital firm Convergence Ventures and internet services-focused investor CyberAgent Ventures. The company plans to use the new funds to expand its business in Indonesia and Southeast Asia. Read More
Enterprise Investors-backed X-Trade Brokers Completes an IPO on the Warsaw Stock Exchange(CEE & CIS)
European financial brokerage X-Trade Brokers (XTB) has completed an initial public offering (IPO) on the Warsaw Stock Exchange. Company founders reduced their stake from 80.8 percent to 66.8 percent in the offering, generating gross proceeds of EUR43 million (approximately US$49 million). Enterprise Investors, a Central and Eastern Europe-focused private equity firm and existing backer of XTB, did not dispose of… Read More
ICICI Venture Invests INR1.2 Billion in Anthea Aromatics (Asia)
India-focused private equity fund manager ICICI Venture has acquired a minority stake in Anthea Aromatics, an India-based manufacturer of chemical inputs for the food flavoring and fragrance industry, for INR1.2 billion (approximately US$18 million). The transaction was structured through India Advantage Fund Series 4. Anthea was founded in 1991 and operates four manufacturing facilities near Mumbai, producing a range of… Read More
8 Miles Acquires a Minority Stake in Verde Beef Processing (Sub-Saharan Africa)
Pan-African private equity firm 8 Miles has acquired a minority stake in Verde Beef Processing, an Ethiopia-based beef producer. With the new investment, the company plans to expand its base of 6,000 animals and build its own slaughterhouse and meat processing facility. Financial details of the transaction were not disclosed. Read More