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Atlas Mara to Acquire ABC Holdings and ADC African Development Corporation for Approximately US$265 Million (Sub-Saharan Africa)
London-listed Atlas Mara Co-Nvest, whose strategy is to acquire and operate financial institutions in Africa, has reached an agreement to acquire a majority stake in Botswana-based ABC Holdings, parent company of banks operating under the BancABC brand. Atlas Mara has also entered into an agreement with German-listed pan-African banking group ADC African Development Corporation to make a voluntary public takeover… Read More
Wolfensohn Capital Partners Partially Exits Repco Home Finance (Asia)
Emerging markets-focused private equity firm Wolfensohn Capital Partners has partially exited its investment in India-listed housing finance company Repco Home Finance, selling over half of its shares for INR1.12 billion (approximately US$18.8 million). Wolfensohn originally acquired a 13.3 percent stake in Repco before the company’s public offering in March 2013. Post-IPO, Wolfensohn held around a ten percent stake. Repco’s other… Read More
LeapFrog to Invest US$29 Million in IFMR Capital (Asia)
LeapFrog Investments, an investor in financial services for emerging consumers in Africa and Asia, will invest US$29 million in India-based non-banking financial services company IFMR Capital. The transaction was structured through LeapFrog’s Fund II. IFMR Capital provides credit, insurance and other financial services to more than 6.6 million active borrowers and 7.6 million insured customers. The investment will enable the… Read More
Helios Reaches a US$355 Million First Close on Helios Investors III (Sub-Saharan Africa)
Pan-African private equity firm Helios Investment Partners has reached a first close on Helios Investors III, a Sub-Saharan Africa-focused fund, with US$355 million in capital commitments. Six institutional investors participated in the close. The fund is targeting US$1 billion, and a subsequent close is tentatively scheduled for late May, for which participating LPs have reserved an additional US$185 million. Read More
Blackstone Completes Take-Private of Technology Outsourcing Company Pactera (Asia)
A consortium led by global investment and advisory firm The Blackstone Group has completed a take-private of China-based technology outsourcing provider Pactera Technology International, valuing the previously NASDAQ-listed company at approximately US$625 million. Company management and existing investor venture capital firm GGV Capital rolled over their shares into the acquisition vehicle. Exiting investors received US$7.30 per American depository share. The… Read More
Vantage Capital Exits Its Investment in CA Sales (Sub-Saharan Africa)
Mezzanine-focused private equity fund manager Vantage Capital has exited its investment in South Africa-based CA Sales, a distributor of fast-moving consumer goods with operations in Botswana, South Africa, Swaziland, Zimbabwe and Mozambique. In March 2012, Vantage-funded Export Trading Group had acquired a 40 percent stake in CA Sales alongside PSG Asset Management, a South Africa-listed investment group. Vantage’s exit was… Read More
EMF Capital Partners Acquires Aviva’s General Insurance Business in Turkey (CEE and CIS)
A consortium of investors led by EMF Capital Partners, a private equity firm focused on financial institutions in emerging markets, has acquired Turkey-listed non-life insurance company Aviva Sigorta from insurance and asset management company Aviva. EMF’s investment was structured through the EMF New Europe Insurance Fund. Development finance institutions DEG and FMO also participated in the acquisition. Financial details of… Read More
Hanco and Venture Capital Bank Buy Byrne Investments from Havenvest Private Equity Middle East and HSBC Bank Middle East (MENA)
Saudi Arabia-based asset rental and leasing company Hanco has acquired Saudi Arabia-based rental company Byrne Investments and its subsidiary companies, Byrne Equipment Rental and Spacemaker, from MENA-focused private equity firm Havenvest Private Equity and financial services provider HSBC Bank Middle East for a total transaction value of AED600 million (approximately US$163 million). Islamic investment bank Venture Capital Bank joined Hanco… Read More
PineBridge Acquires a 50 Percent Stake in Physical Therapy Chain Romatem (CEE and CIS)
Global asset manager PineBridge Investments Middle East has acquired a 50 percent stake in Turkey-based physical therapy and rehabilitation services chain Romatem. The company operates a network of four facilities and intends to use the new investment to establish additional hospitals and clinics across Turkey, as well as for international expansion. Financial details of the transaction were not disclosed. Read More
CITIC Capital Commits US$150 Million to Harbin Bank IPO (Asia)
China-based commercial lender to small businesses Harbin Bank has raised US$1.1 billion from its initial public offering (IPO) on the Hong Kong Stock Exchange, selling 3.02 billion shares at HKD2.90 (approximately US$0.37) each. Harbin Bank secured pledges from seven cornerstone investors to buy 46 percent of the IPO. Investors included Taiwan-based life and health insurance provider Fubon Life Insurance, which… Read More
Bain Capital Agrees to Buy Health Plan Provider GNDI (Latin America)
Alternative investment firm Bain Capital has agreed to acquire Brazil-based provider of health and dental plans Grupo Notre Dame Intermedica (GNDI) from its founder, Dr. Paulo Barbanti, for a reported BRL2 billion (approximately US$858 million). The company provides healthcare services to more than seven thousand companies and three million people through its subsidiaries: Intermedica, Notre Dame and Interodonto. The transaction… Read More
Harith Participates in US$870 Million Financing Agreement for the Lake Turkana Wind Power Project in Kenya (Sub-Saharan Africa)
The Lake Turkana Wind Power Project (LTWP), intended to add 300MW of low cost wind energy to Kenya's national electricity grid, has signed financing agreements worth more than US$870 million, including a mixture of equity, mezzanine debt and senior debt. Pan-African infrastructure fund manager Harith General Partners, structured through its Power Africa fund, has committed US$70 million to the project.… Read More