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Milk Mantra Raises INR800 Million from Fidelity Growth Partners and Aavishkaar (Asia)
India-based dairy foods company Milk Mantra has raised INR800 million (approximately US$13.3 million) in a Series C financing round led by Fidelity Growth Partners India, the India-focused private equity arm of Fidelity Worldwide Investment. Early-stage investor Aavishkaar also participated in the round through its fund Aavishkaar India II. The transaction provided an exit for angel investors as well as for… Read More
ICICI Venture Buys a Minority Stake in KIMS Hospitals for US$36 Million (Asia)
Private equity firm ICICI Venture has acquired a 28 percent stake in India-based hospital operator Krishna Institute of Medical Sciences (KIMS Hospitals) for INR2.2 billion (approximately US$36 million). The transaction, which was structured through ICICI Venture’s Advantage Fund Series 3, involved a fresh infusion of capital, as well as a secondary component through which health care-focused private equity fund manager… Read More
IDB Fund II Reaches a US$750 Million First Close (MENA)
The Islamic Development Bank (IDB) Group, an international financial institution, has announced that IDB Fund II has reached a first close with US$750 million in commitments. IDB Fund II, which is targeting US$2 billion and aims to hold a final close in early 2015, is managed by Bahrain-based multi-fund asset management platform ASMA Capital Partners. The fund will invest in… Read More
Southern Cross to Buy Grupo Expansión (Latin America)
Latin America-focused private equity firm Southern Cross has agreed to acquire Grupo Expansión (GEx), a magazine publisher in Mexico and a subsidiary of media company Time. Following the acquisition, GEx will continue to license the Time and Time Warner brands that have been part of its portfolio (CNNMéxico, InStyle and Travel + Leisure). Financial details of the transaction, which is… Read More
The West Africa Emerging Market Growth Fund Invests US$5 Million in Leasafric Ghana (Sub-Saharan Africa)
Private equity fund manager PCM Capital Partners has invested US$5 million in Leasafric Ghana, a provider of finance and operating lease solutions to small- and medium-sized enterprises in Ghana. The transaction was structured through the West Africa Emerging Market Growth Fund. The investment will allow Leasafric to expand its activities into other sectors, such as agriculture and oil and gas. Read More
EMX Capital Agrees to Invest up to MXN370 Million in Farmapiel (Latin America)
Mexico-focused private equity fund manager EMX Capital has agreed to invest up to MXN370 million (approximately US$28 million) in Mexico-based pharmaceutical company Farmapiel. The investment will be made in partnership with Ricardo Spinola, an entrepreneur and executive who acquired Farmapiel in 2013 and who will remain as a minority shareholder and CEO of the company. EMX Capital’s investment will support… Read More
Beltone Financial Holding and a Group of Investors Submit a Tender Offer for Cairo-listed EFG Hermes Holding (MENA)
Beltone Financial Holding, an Egypt-based investment bank, New Egypt Investment Fund (NEIF), a fund controlled by Egyptian businessman Naguib Sawiris, and Beltone Capital Holding, an investment vehicle managed by Beltone Private Equity, have submitted a tender offer to acquire 20 percent of Cairo-listed investment bank EFG Hermes Holding. Under the terms of the offer, NEIF will acquire a 17.82 percent… Read More
EQT Partners Agrees to Sell Blizoo Macedonia to Telekom Austria (CEE and CIS)
Private equity firm EQT has agreed to sell Blizoo Macedonia, the Macedonian operations of Bulgaria-based cable TV operator Blizoo, to Austria-based telecommunications company Telekom Austria. Telekom Austria will use its existing cash flow to finance the deal, which is expected to close in Q3 2014. Financial details of the transaction were not disclosed. Read More
Lightspeed China Partners Closes a US$260 Million Venture Fund (Asia)
China-focused venture capital firm Lightspeed China Partners has completed fundraising for Lightspeed China Partners II with US$260 million in capital commitments, surpassing the vehicle’s target of US$220 million. The majority of investors in Lightspeed China Partners II were from the United States, including fund of funds manager Horsely Bridge Partners. Investors from Asia included Singapore’s sovereign wealth fund GIC. Lightspeed… Read More
Motilal Oswal PE Invests INR750 Million in Glass Wall Systems (Asia)
Private equity firm Motilal Oswal Private Equity has invested INR750 million (approximately US$12.5 million) for a minority stake in India-based Glass Wall Systems, a company that designs, manufactures and installs aluminum and glass facades for commercial and residential buildings. The transaction was structured through India Business Excellence Fund II. The company will use the capital to set up a processing… Read More
Actis and Ethos to Sell Stakes in Alexander Forbes (Sub-Saharan Africa)
Mercer, a subsidiary of United States-based professional services firm Marsh & McLennan, has agreed to acquire 34 percent of South Africa-based employee benefits company Alexander Forbes, which is backed by private equity firms Actis and Ethos Private Equity. Mercer will initially acquire a 14.9 percent stake at the time of Alexander Forbes’ listing on the Johannesburg Stock Exchange, scheduled for… Read More
CDH Investments and China Grand Pharmaceutical to Invest in Shanghai Weicon Optical (Asia)
China-focused alternative asset fund manager CDH Investments and Hong Kong-listed pharmaceutical manufacturer China Grand Pharmaceutical and Healthcare Holdings have agreed to invest US$69 million and US$25 million, respectively, in Shanghai Weicon Optical, a China-based contact lens and solutions manufacturer. Upon completing the subscription, China Grand Pharmaceutical and CDH Investments will hold 55 percent and 20 percent stakes, respectively, in the… Read More