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Clearwater Capital Partners Partially Exits Jamna Auto (Asia)
Clearwater Capital Partners, an investment firm focused on credit and special situations in Asia, has exited a 16.5 percent stake in India-based auto component maker Jamna Auto Industries. Clearwater Capital Partners returned INR770 million (approximately US$11.5 million) in open market transactions on the Bombay Stock Exchange and the National Stock Exchange on 7 December 2015. Clearwater Capital Partners, which held… Read More
Actis Invests in Food Lover’s Market (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has acquired a minority stake in South Africa-based food retailer Food Lover’s Market for ZAR760 million (approximately US$54 million). The company owns more than 120 stores across 11 countries in Africa. Food Lover’s Market intends to use the funding to continue its growth both in South Africa and in other Sub-Saharan African countries. Read More
ChrysCapital Acquires Sequoia Capital’s Stake in GVK Biosciences for US$25 Million (Asia)
India-focused private equity firm ChrysCapital has acquired a ten percent stake in India-based contract research and discovery services company GVK Biosciences from Sequoia Capital for US$25 million. ChrysCapital has also reportedly committed additional funds to back GVK Biosciences’ plans to grow through acquisitions. The transaction, which recently received Foreign Investment Promotion Board approval, valued the company at US$250 million. Read More
Enterprise Investors Partially Exits Kofola via IPO (CEE and CIS)
Czech Republic-based soft drink producer Kofola, which is backed by Central and Eastern Europe-focused private equity and venture capital firm Enterprise Investors, has raised CZK11.37 billion (approximately US$446 million) in an initial public offering (IPO) on the Prague Stock Exchange. Enterprise Investors’ Polish Enterprise Fund VI, which originally invested in Kofola in 2008, sold a six percent stake for EUR23… Read More
Goldman Sachs Invests US$20 Million in China-based Ascletis (Asia)
Global banking, securities and investment management group Goldman Sachs has invested US$20 million in China-based biotechnology company Ascletis. The company focuses on the discovery, development and commercialization of treatments for infectious diseases and cancer and owns four products in the clinical phase. Ascletis will use the funds to strengthen its research and development capacity and broaden the scope of its… Read More
Old Mutual Private Equity Acquires a Majority Stake in MoreCorp (Sub-Saharan Africa)
Old Mutual Private Equity (OMPE), a division within Africa-focused investment manager Old Mutual Alternative Investments, has acquired a 70 percent stake in South Africa-based sport, leisure and wellness business MoreCorp for reportedly more than ZAR300 million (approximately US$20.8 million). The transaction was structured through OMPE’s Fund IV. MoreCorp owns golf retailers The Pro Shop, World of Golf and Playmoregolf and cycling… Read More
Trifecta Capital Invests in NephroPlus, Rivigo and HelpChat (Asia)
India-focused venture debt firm Trifecta Capital Advisors has invested INR360 million (approximately US$5.4 million) across three India-based start-ups. The companies that received investment were dialysis network provider NephroPlus, logistics firm Rivigo and personal assistant mobile application HelpChat. Financial details of the individual transactions were not disclosed. Read More
Navis Capital Partners Agrees to Sell Golden Foods Siam to BRF for US$360 Million (Asia)
Southeast Asia-focused private equity firm Navis Capital Partners has agreed to sell Thailand-based poultry producer Golden Foods Siam (GFS) to Brazil-listed food producer BRF for US$360 million. Navis originally invested in GFS in 2009 and is reportedly set for a 3.4x return on its investment. The transaction is subject to regulatory approval in Japan and Germany. Read More
AfricInvest Acquires a Minority Stake in Salvador Caetano Auto Africa (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest has purchased a minority stake in Salvador Caetano Auto Africa (SC Africa), a subsidiary of Portugal-based auto retailer Salvador Caetano Group. The transaction was structured through AfricInvest Fund III. With AfricInvest’s backing, SC Africa intends to consolidate its position in its current markets of operation and explore opportunities to provide auto financing and leasing. Financial… Read More
BaltCap Agrees to Finance Impuls’s Acquisition of Artic Sports Club (CEE and CIS)
BaltCap, a private equity and venture capital firm focused on the Baltic countries, and Nordea Bank, a Nordic financial services group, have agreed to finance Lithuania-based fitness chain Impuls’s acquisition of Estonia-based fitness center chain Arctic Sports Club. BaltCap’s portion of the transaction will be structured through BaltCap Lithuania SME Fund. The acquisition is part of Impuls’s plan to create… Read More
BaltCap to Acquire Stakes in Dental Invest Estonia and Waste Management Group EKT (CEE and CIS)
BaltCap, a private equity and venture capital firm focused on the Baltic countries, has agreed to acquire a 56 percent stake in Estonia-based dental care company Dental Invest Estonia (DIE). With BaltCap’s support, DIE intends to expand its service offerings and network of clinics. Separately, BaltCap has agreed to acquire a 75 percent stake Estonia-based waste management and municipal services… Read More
Bain Capital Sells Its Remaining Stake in Hero MotoCorp via a Block Deal (Asia)
Global private equity firm Bain Capital has exited India-based motorcycle and scooter manufacturer Hero MotoCorp via a block deal for INR7.63 billion (approximately US$115 million). Bain sold all of its 2.95 million shares, representing a 1.5 percent stake in the company, with the bulk of the shares sold on the National Stock Exchange for INR2,591.25 (approximately US$38.83) per share. Bain… Read More