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Capitalworks Exits Pronto Holdings (Sub-Saharan Africa)
Pretoria Portland Cement Company Limited (PPC) has acquired Pronto Holdings from South Africa-based independent alternative asset manager Capitalworks for a minimum value of ZAR280 million (approximately US$33 million). Capitalworks first invested in Pronto, a ready-mix concrete business based in Johannesburg, in 2008. Read More
Vantage Capital Raises Mezzanine Fund in Africa, Invests ZAR133 Million in CA Sales (Sub-Saharan Africa)
Vantage Capital, a South African specialist fund manager, has closed its second pan-African mezzanine fund at ZAR1.9 billion (approximately US$226 million). Mezzanine Fund II, which received commitments from the Development Bank of Southern Africa, Norfund and 14 pension funds from South Africa and Botswana, will invest in mid-size African companies. In a separate statement, Vantage Capital announced a ZAR133 million… Read More
U.K.-Based Bancroft Buys 75 Percent Graniser Stake for US$75 Million (CEE and CIS)
London-based Bancroft Private Equity has acquired 75 percent of Turkish ceramic tiles and granite producer Graniser for US$75 million. Graniser is the fourth investment made in Turkey by the Bancroft Group, which focuses on private equity fund management in Eastern Europe. Graniser plans to invest US$500 million over the next three years to support growth in Middle Eastern and European… Read More
AGF Latin America Fund Holds First Close of US$64 Million (Latin America)
The AGF Latin America Fund has held a first close of US$64 million, led by private equity investors DEG (Deutsche Investitions- und Entwicklungsgesellschaft), the Inter-American Development Bank’s Multilateral Investment Fund (MIF/IDB), the Andean Development Corporation (CAF) and Compass Group. The fund will invest in middle-market companies in the agribusiness and food sectors via mostly control positions. The fund, which is… Read More
VTB Capital Forms a Joint Venture with Burger King (CEE and CIS)
Russia-based VTB Capital’s Private Equity and Special Situations group has partnered with Burger King Corporation and Burger Rus, the largest Russian Burger King franchise with 54 restaurants, to form a joint venture to expand the global fast food chain’s presence in Russia. The new joint venture will own exclusive rights to expand the Burger King franchise in Russia and plans… Read More
UAP Raises KES4.7 Billion from Private Equity Investors Aureos, AfricInvest-TunInvest Group, and Swedfund International AB (Sub-Saharan Africa)
UAP Holdings, a Kenya-based financial services group, has raised KES4.7 billion (US$53.5 million) from three international private equity investors to support its regional and pan-African expansion plans. Aureos Capital’s Aureos Africa Fund, AfricInvest Fund II and AfricInvest Financial Sector Fund, both managed by Tunisia-based AfricInvest-TunInvest Group, and Swedish development finance institution Swedfund International AB all participated in the financing round.… Read More
Pátria to Acquire 40 Percent of Vulcabras for BRL500 Million (Latin America)
Brazil-based alternative investment management firm Pátria Investimentos and global investment and advisory firm Blackstone plan to acquire a 40 percent stake in Brazilian footwear manufacturer Vulcabras for BRL500 million (approximately US$245 million). Vulcabras produces the Azaleia and Olympikus shoe brands and has operations throughout South America. In 2010, Blackstone acquired a 40 percent stake in Pátria Investimentos, whose fourth private… Read More
ACON Investments Provides Growth Capital to BSM Engenharia (Latin America)
The ACON Latin America Opportunities Fund (ALAOF) has led an investment of BRL110 million (approximately US$54 million) for a significant minority stake in BSM Engenharia (BSM), a Brazilian firm specializing in offshore oil and gas logistics and heavy-duty equipment rentals. ALAOF is managed by ACON Investments, a U.S. and Latin America-focused private equity investment firm. BSM will use the new… Read More
Navis Closes Offer on Adampak, Now Controls 98.4 Percent of Singapore Firm (Asia)
Navis Capital Partners’ cash offer for Adampak, a Singapore-based manufacturer of precision components, has closed. Navis, which first announced the cash offer valuing Adampak at SGD110.7 million (approximately US$88 million) on 2 April 2012, now controls 98.4 percent of the company. The offer price of SGD0.42 per share represented an approximately 50 percent premium to Adampak’s 12-month weighted share price.… Read More
Warburg Pincus Acquires Equity Stake in Future Capital Holdings (Asia)
Future Group, an India-based consumer conglomerate, has agreed to sell its stake in Indian financial services provider Future Capital Holdings (FCH) to Warburg Pincus. The U.S.-based global private equity firm will acquire Future Group’s stake at a price of INR162 (US$2.90) per share and will also invest INR1 billion (approximately US$18 million) directly in FCH through a preferential share allotment.… Read More
PDG Realty Approves BRL800 Million Investment Offer from Vinci Partners (Latin America)
The board of Brazilian homebuilder PDG Realty has approved a plan proposed by local private equity firm Vinci Partners to raise BRL800 million (approximately US$390 million) through an issue of new warrants. Investment funds controlled by Vinci Partners could acquire up to 81.4 percent of the new shares issued as part of the plan, which is subject to shareholder approval.… Read More
FMO, SBIH Launch New Investment Fund Focusing on Financial Sector in Emerging Asia (Asia)
The Netherlands Development Finance Company (FMO) and SBI Holdings (SBIH), a Japanese financial services group, have agreed to form a new fund targeting financial sector investments in the emerging markets of Asia. The fund, to be managed by SBI Ven Capital, SBIH’s Singapore-based venture capital division, is targeting up to US$80 million, with a first close target of US$60 million.… Read More