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ThomasLloyd to Build Three New Solar Power Stations in the Philippines (Asia)
Global investment banking and investment management group ThomasLloyd has contracted three new solar power stations in the Philippines. The transaction was structured through ThomasLloyd’s Cleantech Infrastructure Fund. The plants, due to reach completion in June 2015, will have a generating capacity of 41MW. Financial details of the transaction were not disclosed. Read More
The Carlyle Group and Old Mutual Private Equity to Acquire 100 Percent of Tiger Automotive (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group and South-Africa focused private equity fund manager Old Mutual Private Equity have agreed to acquire 100 percent of South Africa-based tire retailer and wholesaler Tiger Automotive from Ethos Private Equity and the company’s founders for a reported ZAR2 billion (approximately US$182 million). Funding for the investment will come from the Carlyle Sub-Saharan Africa… Read More
The Carlyle Group Invests US$147 Million in Diamond Bank (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group has invested US$147 million in Nigeria-listed commercial bank Diamond Bank. The transaction, which came as part of Diamond Bank’s recently completed US$305 million rights issue, was structured through Carlyle’s Sub-Saharan Africa Fund. Proceeds will be used for the development of the bank’s IT infrastructure, for working capital support and for the expansion and… Read More
SAIF Partners Invests in Qikwell and PropTiger, Partially Exits Just Dial (Asia)
Asia-focused multi-stage investment firm SAIF Partners has invested US$3 million in India-based online doctor appointment platform Qikwell Technologies’ Series A funding round, and participated in a US$37 million round for Elara Technologies, operator of India-focused real estate marketing platform PropTiger.com. Global media group News Corp invested US$30 million in Elara, with SAIF Partners and venture capital firms Accel Partners and… Read More
Darby Private Equity Invests in Storent Holding (CEE and CIS)
Darby Private Equity, the private equity arm of Franklin Templeton Investments, has acquired a majority interest in Latvia-based construction and industrial equipment rental company Storent Holding. Darby’s investment will be used by Storent, which currently operates 23 rental depots across Latvia, Lithuania and Estonia, to develop its equipment fleet and increase market share in its core Baltic markets. Financial details… Read More
Gulf Capital Completes Management Buy-Out of Destinations of the World (MENA)
Middle East-focused alternative asset manager Gulf Capital has completed the acquisition of 100 percent of United Arab Emirates-based hospitality distributor Destinations of the World (DOTW) in partnership with the company’s senior management. DOTW secures hotel room inventory and sells bookings to its distribution network of travel agents, airlines and tour operators. Post-transaction, Gulf Capital will retain a 57.5 percent stake… Read More
Fanisi Capital Receives Regulatory Approval to Invest in Ngare Narok Meat Industries (Sub-Saharan Africa)
East Africa-focused private equity and venture capital investor Fanisi Capital has received regulatory approval from the Competition Authority of Kenya to acquire a 40.2 percent stake in Kenya-based Ngare Narok Meat Industries. Ngare Narok Meat operates a modern abattoir, meat processing plant and rendering plant. Fanisi Capital reported in August that it intended to invest KES221 million (approximately US$2.4 million) in… Read More
Everstone Capital and Solmark to Acquire a Majority Stake in Servion Global Solutions for INR4 billion (Asia)
India-focused private equity firm Everstone Capital and United States-based equity fund Solmark have signed an agreement with India-based customer management service provider Servion Global Solutions to acquire a controlling stake in Servion for INR4 billion (approximately US$65 million). The transaction will be structured through Evertech, Everstone Group’s technology investment platform, and will provide an exit to most of the existing… Read More
The Rohatyn Group Exits Huvepharma (CEE and CIS)
Emerging markets-focused investment firm The Rohatyn Group (TRG) has sold its 37 percent stake in Bulgaria-based pharmaceutical company Huvepharma to Advance Properties, an investment holding company controlled by the Domuschiev family. The transaction was structured through TRG Growth Fund II. Huvepharma focuses on developing, manufacturing and marketing animal health and nutrition products, as well as several ingredients used in human… Read More
LeapFrog Investments to Buy a Majority Stake in Resolution Insurance for KES1.7 Billion (Sub-Saharan Africa)
Emerging markets financial services investor LeapFrog Investments has announced that it intends to acquire a majority stake in Kenya-based general insurer Resolution Insurance for KES1.7 billion (approximately US$18.7 million). The transaction will be structured through LeapFrog Financial Inclusion Fund II. Resolution Insurance has operations in Kenya and Tanzania, and the investment will help the company explore alternative distribution channels. The… Read More
GTM Announces Sale to Advent International (Latin America)
Global private equity investor Advent International has agreed to acquire a controlling interest in Latin America-focused chemical distributor Grupo Transmerquim (GTM). GTM provides chemical products and logistical services to its customers via its 40 locations in 12 countries from Mexico to Argentina. Financial details of the transaction, which is expected to close in December 2014, were not disclosed. Read More
Future Group Acquires Grocery Chain Nilgiris from Actis and the Mudaliar Family (Asia)
India-based conglomerate Future Group, through its consumer goods arm Future Consumer Enterprise, has acquired India-based supermarket chain Nilgiris for a reported INR3 billion (approximately US$49 million) from pan-emerging markets private equity firm Actis and company founders the Mudaliar family. Nilgiris operates across South India, with stores in Karnataka, Kerala, Andhra Pradesh and Tamil Nadu, and specializes in dairy and baked… Read More