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News From EMPEA Registration for EM PE Forum in NY in March - Now Open! Industry News "GP Investments Merges Three Human Resource Companies in Brazil" (Latin America and the Caribbean) "Global Investment House and Julfar Team Up" (Middle East) "Horizon Capital Buys Into Moldova and Belarus Banks" (Central and Eastern Europe and Russia) "ICICI, IL&FS Acquire Stake in Multi Commodity Exchange of India" (Asia) "Actis Exits Investments in Nigeria, Egypt" (Africa) "Conduit Fourth Fund to Diversify" (Latin America and the Caribbean) "Ethos to Acquire South Africa's Tiger Automotive" (Africa) "Advent Buys Ceramica Iasi" (Central and Eastern Europe and Russia) "Lombard Announces US$18.2 Million Investment in SNC Former PCL" (Asia) "AIG Acquires Stake in Veolia Environnement Maroc" (Africa) "Abraaj Fund Completes Arabtec Exit" (Middle East) "Actera Closes US$475 Million Fund for Turkey" (Middle East) "Odien Group Buys Majority in Biggest Czech Travel Agency" (Central and Eastern Europe and Russia) "Kuwait Private Bankers Eye LatAm Port Projects" (Latin America and the Caribbean)
News From EMPEA
Registration for EM PE Forum in NY in March - Now Open!
Registration for the Emerging Markets Private Equity Forum in New York, March 27-28, 2008 is now open: http://www.peimedia.com/emny08
Industry News "GP Investments Merges Three Human Resource Companies in Brazil" (Latin America and the Caribbean) Bloomberg (12/17/07) Winterstein, Paulo Brazil-based private equity firm GP Investments owns a 77.5 percent stake in a new company established by the merger of three human resource companies in Brazil—Grupo Soma, Top Service and, People Domus. The three HR companies were acquired by GP for about US$55.2 million through the GP Capital Partners IV Fund. Brazil's HR industry has experienced double-digit growth over the past few years. Temporary employment and outsourcing services in Brazil employed over 2.2 million people in 2006. Return to Headlines "Global Investment House and Julfar Team Up" (Middle East) Gulf News (CAN) (12/14/07) Global Investment House of Kuwait and Gulf Pharmaceutical Industries (Julfar) have partnered to form Planet Pharmacies, a venture that aims to become the largest healthcare products retailer in the MENA region. Under the terms of the deal, private equity funds managed by Global Investment will own a 60 percent stake in the joint venture. Of the 2,000 pharmacies planned under the venture over the next three years, 65 have already been acquired in the UAE and Oman. Other acquisitions are planned in Saudi Arabia, Kuwait, Egypt, and Jordan. Return to Headlines "Horizon Capital Buys Into Moldova and Belarus Banks" (Central and Eastern Europe and Russia) Thomson Financial (12/13/07) Private equity firm Horizon Capital has announced the acquisitions of a 25 percent stake in Moldova's FinComBank and a 31.5 percent stake in MTB, a bank in Belarus. Horizon Capital has offices in Ukraine, Moldova, and the United States and focuses on midsize companies in Ukraine, Moldova, and Belarus. It currently manages over US$280 million in committed capital through two funds, the Emerging Europe Growth Fund and Western NIS Enterprise Fund. Horizon's other outstanding regional financial services and banking sector investments include a 30.85 percent stake in IMB Group of Ukraine and a 20 percent stake in ProCredit Bank, also of Ukraine. Return to Headlines "ICICI, IL&FS Acquire Stake in Multi Commodity Exchange of India" (Asia) Times of India (12/15/07) India's ICICI Venture, IL&FS Investment Managers, and Kotak Mahindra Bank will jointly acquire a 9.6 percent stake in the Multi Commodity Exchange of India (MCX). Though the sales price was not disclosed, MCX was valued at US$1.1 billion. Under the terms of the deal, ICICI will acquire a 3.55 percent stake, IL&FS a 5 percent stake, and Kotak a 1 percent stake in the bourse. Return to Headlines "Actis Exits Investments in Nigeria, Egypt" (Africa) AltAssets.com (12/13/07) Emerging markets private equity investor Actis has announced two exits in Africa. The firm has sold its stakes in El-Rashidi El-Mizan Confectionary Company (REM) of Egypt and The Palms Mall in Nigeria. Actis acquired REM, Egypt's leading producer of halawa and tahina, in 2002. The Palms Mall, meanwhile, was developed in a joint venture with property developer Tayo Amusan and opened in late 2005. Actis has investments in 19 African nations. Return to Headlines "Conduit Fourth Fund to Diversify" (Latin America and the Caribbean) LAVCA Reporter (12/01/07) Vol. 5, No. 12, Private equity firm Conduit Capital says that its fourth fund will consider investments outside its typical focus—power and gas pipeline projects in Latin America and the Caribbean. Conduit says the fund, which aims to close with between US$800 million and US$1 billion in committed capital, will consider infrastructure projects such as airports and seaports but not toll roads. Return to Headlines "Ethos to Acquire South Africa's Tiger Automotive" (Africa) Reuters (12/12/07) South Africa-based Ethos Private Equity has offered US$154.4 million to acquire South African alloy wheel retailer Tiger Automotive. The acquisition will be made through Ethos Private Equity Fund V, which closed in October 2006 with US$750 million in committed capital dedicated to investments in sub-Saharan Africa. Return to Headlines "Advent Buys Ceramica Iasi" (Central and Eastern Europe and Russia) Private Equity HUB (12/13/07) Global buyout firm Advent International has acquired a 70 percent stake in Romanian maker of ceramic bricks and clay roof tiles Ceramica Iasi for US$35 million. Advent says that the investment was made to capitalize on the rapid expansion of Romania's construction industry. Other investments made by Advent in the regional construction materials sector include Bolix of Poland, Dufa Deutek in Romania, and Bulgaria's KAI Group. Return to Headlines "Lombard Announces US$18.2 Million Investment in SNC Former PCL" (Asia) PRNewswire (12/11/07) Global private equity firm Lombard Investments has invested US$18.2 million in SNC Former PCL, Thailand's leading maker of air conditioner parts for the automotive and housing industries. The investment gives Lombard a 16.6 percent stake in SNC. The investment was made through the Lombard Asia III Fund, dedicated to Southeast Asia and China. Return to Headlines "AIG Acquires Stake in Veolia Environnement Maroc" (Africa) Reuters (12/11/07) AIG Infrastructure Fund has acquired a 10 percent stake in Veolia Environnement Maroc, the Moroccan arm of French utility group Veolia Environnement. Also sold was a 9 percent stake to Moroccan state investment vehicle Caisse de Depot et de Gestion. Veolia owns water and power concessions in several northern Moroccan towns. Return to Headlines "Abraaj Fund Completes Arabtec Exit" (Middle East) AME Info (UAE) (12/11/07) Dubai-based private equity firm Abraaj Capital has announced the sale of its stake in Arabtec Holding PJSC, a UAE-based construction contracting firm, for 12 times the invested capital. Abraaj acquired Arabtec in 2004 through its Abraaj Real Estate Fund. This is the fund's first exit. Abraaj specializes in private equity investments in the MENASA region. Return to Headlines "Actera Closes US$475 Million Fund for Turkey" (Middle East) AltAssets.com (12/10/07) Turkey-based private equity firm Actera Group has closed its first fund with over US$475 million in committed capital, making it the largest Turkey-dedicated fund. The fund, which exceeded its initial target by 30 percent, was launched in November 2006. The fund has already finalized its first deal, a stake in Turkish spirits company Mey Icki Sanayi in conjunction with U.S. buyout firm TPG. Return to Headlines "Odien Group Buys Majority in Biggest Czech Travel Agency" (Central and Eastern Europe and Russia) PR-Inside.com (12/10/07) U.S.-based private equity company Odien Group has acquired a 98 percent stake in Czech Republic's leading travel agency, Cedok AS, for an undisclosed sum. Cedok operates 45 branches across the Czech Republic. Odien's focus is Central and Eastern Europe. Return to Headlines "Kuwait Private Bankers Eye LatAm Port Projects" (Latin America and the Caribbean) Business News Americas (12/14/07) Kuwait-based private equity firm KGL Investment says its port fund is looking at investment opportunities in Latin America. Potential investments include logistics providers as well as port-related infrastructure, such as roads. Return to Headlines Abstract News © Copyright 2007 INFORMATION, INC. |
19 December 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  |