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News From EMPEA Emerging Markets Private Equity Funds Raise over US$20 Billion in the First Six Months of 2007 Outlook for 2007: Record-Breaking Totals for EM Fundraising Industry News "Singapore's UTAC Shareholders Approve TPG-Led Buyout Offer" (Asia) "For Buyout Firms, West Meets Mideast" (Middle East) "Dubai's Istithmar Sets Up Local Shop With Africa in Its Sights" (Africa) "ICICI Catches PE Buzz, to Roll Out FoF" (Asia) "Brazil's BR Malls to Make 20 Million Shares Primary Offer" (Latin America and the Caribbean) "AirAsia X Says It Will Raise US$80.3 Million for 20 Percent Stake" (Asia) "15 Suitors for Telekom Slovenije" (Central and Eastern Europe and Russia) "Carlyle Group to Take Stake in Brazilian Developer" (Latin America and the Caribbean) "Ethos to Buy Significant Percentage of Busby" (Africa) "EIB Invests EUR25 Million in Prague-based Enercap Power Fund Targeting CEE Renewable Energy" (Central and Eastern Europe and Russia) "Gulf Capital-Led Group Takes Control of GMS" (Middle East)
News From EMPEA
Emerging Markets Private Equity Funds Raise over US$20 Billion in the First Six Months of 2007 Outlook for 2007: Record-Breaking Totals for EM Fundraising
Washington, D.C., September 19, 2007- 107 private equity funds focused
Industry News "Singapore's UTAC Shareholders Approve TPG-Led Buyout Offer" (Asia) Reuters (10/05/07) Shareholders have approved a buyout offer for Singapore-based semiconductor testing and assembly services provider United Test & Assembly Center (UTAC) by private equity firms TPG Capital and Affinity Equity Partners for US$1.4 billion. The offer, when first made in June, was at first opposed by some investors on the grounds it undervalued UTAC. Return to Headlines "For Buyout Firms, West Meets Mideast" (Middle East) Wall Street Journal (10/03/07) P. C1; Bryan-Low, Cassell; Singer, Jason Blackstone Group and Apax Partners have emerged as frontrunners to acquire a minority stake in telecom holding company Weather Investments, owner of a controlling stake in Orascom Telecom Holding, the largest telecom company in the Middle East and Africa based on number of customers. Another potential buyer is private equity firm TPG Capital. Egyptian billionaire Naguib Sawiris, who controls Weather Investments, says he is in talks to sell a10 percent to 12 percent stake, valued at up to US$1.7 billion. Return to Headlines "Dubai's Istithmar Sets Up Local Shop With Africa in Its Sights" (Africa) Star (South Africa) (10/03/07) P. 21; D'Angelo, Audrey Dubai-based Istithmar is looking for investment opportunities throughout Africa, seeking to capitalize on increasing tourism in the region. The firm has set up an office in South Africa, where it has already purchased stakes in Victoria & Alfred Waterfront, a golf estate, and the first of a new chain of hotels catering to extreme sport enthusiasts. Istithmar is also investing US$230 million in eight tourism facilities in Rwanda. Other countries where the firm is targeting investments include Tanzania, Kenya, and Angola. Return to Headlines "ICICI Catches PE Buzz, to Roll Out FoF" (Asia) Economic Times of India (10/02/07) Kurian, Boby; Alexander, George Smith ICICI Bank is planning to launch a private equity fund that will invest primarily in India-focused private equity funds through its International Mauritius subsidiary, which is also tasked with launching ICICI's $2 billion infrastructure fund that is currently in the pipeline. Sources familiar with the situation say that the fund of funds (FoF) will be launched by the beginning of 2008 and will start with about US$500 million in capital under management and eventually grow to about US$2.5 billion. Potential preliminary investments include IDFC Private Equity's upcoming US$400 million fund and Baring Private Equity Asia's next Indian fund. U.K.-based Private Equity Intelligence estimates that FoFs accounted for roughly 14 percent of private equity investments made last year. ICICI's FoF will be the first by an Indian company. Return to Headlines "Brazil's BR Malls to Make 20 Million Shares Primary Offer" (Latin America and the Caribbean) Dow Jones Newswires (10/04/07) Jelmayer, Rogerio Equity International, a Chicago-based private equity firm focusing on real estate in emerging markets, has expressed interest in acquiring a total of US$75 million in shares to be floated by Brazil's largest shopping center administrator, BR Malls Participacoes SA, which plans to sell 20 million shares through a primary offer on the Brazilian Stock Exchange. Equity International already has a 19 percent stake in BR Malls, which says it could increase the share offering if demand is sufficient. BR Malls operates 26 shopping centers in Brazil. Return to Headlines "AirAsia X Says It Will Raise US$80.3 Million for 20 Percent Stake" (Asia) Wall Street Journal Online (10/04/07) Chew, Elffie Malaysia-based startup long-haul budget airline AirAsia X says it is in negotiations with five private equity funds to sell a 20 percent stake for US$80.3 million. AirAsia X expects to make a decision within two weeks whether to sell the entire stake to one fund or to break up the stake and sell it to all the funds. The airline expects to begin service next month, flying the Kuala Lumpur-Australia Gold Coast route. Eventually, it plans to link Kuala Lumpur with several cities in Asia and the Middle East. Return to Headlines "15 Suitors for Telekom Slovenije" (Central and Eastern Europe and Russia) TeleGeography (10/02/07) The government of Slovenia plans to divest itself of a 49.13 percent stake in Telekom Slovenije. Among the bidders are several private equity firms, including Permira unit Skywheeler; Luxembourg-U.S. buyout fund CEP III, operated by The Carlyle Group; a consortium led by Bain Capital and Axos Capital; and Apax. Non-binding offers are due by Oct. 15. The government may decide to sell the entire stake at one time or initially sell a 35.13 percent stake and the remainder later. Return to Headlines "Carlyle Group to Take Stake in Brazilian Developer" (Latin America and the Caribbean) Washington Business Journal (10/04/07) Adler, Neil The Carlyle Group is planning to make a "significant" investment in Brazilian real estate developer Scopel, its second investment in the South American nation. Earlier this year, the Carlyle/Riverstone renewable energy infrastructure fund made "significant equity investment" in Companhia Nacional de Açúcar e Álcool (CNAA), which is building four ethanol plants in Brazil under a joint venture with Santa Elisa Vale. Scopel, formed four decades ago, focuses on Sao Paulo but is seeking to expand into other regions of Brazil. It has traditionally concentrated on low and middle-income housing. Carlyle officials say the investment will help Scopel take on more long-term projects. Return to Headlines "Ethos to Buy Significant Percentage of Busby" (Africa) Business Report--South Africa (10/02/07) Morris, Ronnnie Ethos Private Equity of South Africa is planning to acquire a "significant percentage" of South African luggage maker and retailer House of Busby for US$186 million. A rise in consumer spending in South Africa fueled by the growing wealth of the country's black majority has spurred a focus by private equity firms on the country's retail sector. In April, Bain Capital acquired clothing retailer Edgars Consolidated Stores for US$3.5 billion. Ethos says its plans for investments go beyond South Africa to include other sub-Saharan nations. Return to Headlines "EIB Invests EUR25 Million in Prague-based Enercap Power Fund Targeting CEE Renewable Energy" (Central and Eastern Europe and Russia) Czech Republic Business Newswire (10/01/07) E.U. lending unit European Investment Bank will invest EUR25 million in the Prague-based Enercap Power Fund managed by EnerCap Capital Partners. The Enercap Power Fund is focused on projects and companies in Central and Eastern Europe promoting renewable energy technologies and is expected to raise between EUR100 million and EUR150 million. Its timing coincides with regional efforts to achieve renewable energy and reduced emissions goals, which EnerCap Capital Partners estimates will require capital expenditures of EUR10 billion by 2010. EnerCap has already identified several projects, requiring a total investment of upwards of EUR1 billion. Return to Headlines "Gulf Capital-Led Group Takes Control of GMS" (Middle East) Gulf News (CAN) (10/01/07) A consortium led by Abu Dhabi-based private equity firm Gulf Capital has acquired a 50 percent stake in Gulf Marine Services (GMS), the largest jack-up barge and support vessel operating company in the UAE. The acquisition gives the consortium a 100 percent stake in the company, augmenting the 50 percent stake acquired in February. Gulf Capital says that the acquisition fits with the company's interest in boosting exposure to the region's oil and gas sector, especially the offshore marine segment. Gulf Capital focuses primarily on Gulf Cooperation Council investments. Return to Headlines Abstract News © Copyright 2007 INFORMATION, INC. |
9 October 2007
Emerging Markets Private Equity NewsWatch provides a selection of noteworthy articles pertaining to private equity investing in emerging markets and is distributed weekly to a wide audience. The Emerging Markets Private Equity NewsWatch is a publication of the Emerging Markets Private Equity Association. For more information on EMPEA, please contact: To advertise, contact: Emerging Markets Private Equity Association  |