Umeme Ltd Eyes Private Equity Investment

Umeme Ltd, a regulated electricity distribution company in Uganda, reported it is planning to sell 45.1 percent out of the 60.08 percent stake it owns in the utility through a private placement.

Umeme Holdings, a subsidiary of London-based private equity firm Actis, said in a statement in Kenya’s Daily Nation newspaper that it anticipated the sale will have no effect on the management or board of the utility or its finances.

“A seamless transaction would allow the original founding shareholder of Umeme to reduce its shareholding through secondary sales to investors on the Ugandan and Kenyan markets,” Umeme Holdings said.

“The decision by the company to reduce its investment and bring in new investors by private treaty is guided by the need to ensure that the bulk of the shares to be sold are placed with institutional investors…”

Source: Reuters

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Umeme Ltd, Uganda, Electricity Distribution Company, Umeme Holdings, London, London Private Equity, Actis, Kenya, Daily Nation.


Busier-than-Normal Start for for Asian Private Equity Firms

CVC Capital Partners, Actis and Zoyi Capital reported deals in a busier-than-normal start to the week, the string of deals could signal a rise in private equity activity in the region.

After lackluster activity in 2013. Last year, investor uncertainty over the exit environment hampered deal making, especially as the market for initial public offerings slowed. However with IPOs ramping back up this year, specifically in China, confidence is creeping back into Asia’s private equity industry.

CVC Capital, which as of February had secured $3 billion of the $3.5 billion it seeks for a fourth Asian fund, purchased a majority stake in Chinese restaurant chain South Beauty, according to a press release issued by the investor. A CVC representative would not disclose any financial details.

The Wall Street Journal reported in October that London-based CVC was planning to invest $300 million for a 69% in South Beauty, whose other investors include Chinese private equity firm CDH Investments. CDH invested $29.3 million into South Beauty for an undisclosed stake in 2008, according to a Reuters’ report.

Source: Wall Street Journal

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Asian Private Equity, CVC Capital Partners, Actis, Zoyi Capital, China, Asia, Chinese Restaurant Chain, South Beauty, Wall Street Journal, London, CDH Investments, Reuters.


Actis to Invest in South Africa’s Credit Bureau Compuscan

South African credit bureau Compuscan to attract investment from emerging markets private equity firm Actis, in its latest deal in the financial services industry on the fast-growing continent.

Bankers say the lack of credit bureaus in sub-Saharan Africa has limited many consumers’ access to loans. Without credit data on potential borrowers, banks are more reluctant to lend because they are unable to accurately price loans.

Actis said it saw the deal as the “first in a series of investments” in the industry.

Under the deal, Actis has established a company, Credit Services Holdings, which will acquire all of Compuscan. Actis will then invest in Credit Services Holdings along with management of Compuscan.

Privately owned Compuscan operates in six sub-Saharan countries, including South Africa, Uganda and Ethiopia, Actis said in a statement on Thursday. Only 5 percent of African adults are covered by credit bureaus, compared with 64 percent in developed countries, it added.

Source: Reuters

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, South Africa, South African Credit Bureau, Compuscan, Actis, Sub-Saharan Africa, Credit Services Holdings, Uganda, Ethiopia.


Actis Sells Stake in Commercial International Bank

Actis, a private equity firm focused on investments in emerging markets, sold about 2.6% of its holding in Egypt’s Commercial International Bank to a group of international investors.

The shares were sold to Egyptian and other Arab institutions for 816 million Egyptian pounds ($117 million), sources at Cairo’s stock exchange said.

It was not clear why Actis, which invests in Asia, Africa and Latin America, reduced its holding. It confirmed the sale in an email to Reuters, without giving further details.

Actis bought 9.1 percent of CIB in July 2009, making the private equity firm its largest single shareholder, the bank said.

The second-biggest shareholder, as of the end of January, was OppenheimerFunds with 5.37 percent, according to Thomson Reuters data.

Source: Reuters

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Actis, Egypt, Commercial International Bank, CIB, International Investor, Cairo, Asia, Africa, Latin America, OppenheimerFunds, Thomson Reuters.


CVC Capital Backs China Education Company EIC Group with $200M

Actis Capital LLP, a private equity firm focused on investments in emerging markets, has sold $200 million shares in China education company EIC Group to its private equity rival CVC Capital Partners, two sources told Reuters.

The deal will give CVC Capital a substantial stake and a greater level of management control over EIC than Actis had, the sources said, without disclosing the exact stake CVC would own.

EIC, which specialises in providing coaching services to students in China seeking an overseas education, becomes the latest in a series of China buyouts where business owners have sold their shares to give more control to incoming investors.

The trend is fuelled by lengthy waits to get to a public listing in China, where the securities regulator has lifted a freeze on IPOs this month after a 15-month hiatus.

Actis and EIC did not respond to request for comments. CVC declined to comment. Sources declined to be named as the deal was not public.

Source: Reuters

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Actis Capital LLP, Actis, China Education Company, EIC Group, CVC, CVC Capital Partners, China Buyout, China, IPOs.


Sterling Hospital’s Chairman Acquires 82% Stake in The Company from Actis

A private equity firm focused on investments in emerging markets Actis Capital LLP said it will sell its 82 percent stake in Sterling Hospital, which will be acquired by the latter’s Chairman Girish Patel.

Financial details of the transaction were not disclosed.

Patel will remain as the chairman and continue to build the business and grow its operations in Gujarat and beyond, Actis said in a statement.

Actis, which manages $6 billion and invests in emerging markets, invested in the Gujarat-based hospital in 2006.

Sterling runs a chain of seven multi-specialty hospitals in western India.

Source: Reuters

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Actis, Actis Capital LLP, Sterling Hospital, Girish Patel, Gujarat, Multi-Specialty Hospitals, Western India.


Gland Pharma Backed by Kohlberg Kravis Roberts

KKR & Co. L.P., an American multinational private equity firm, has acquired nearly $200 million to buy a minority stake in Hyderabad-based Gland Pharma, which makes niche cardiovascular and orthopedic drugs.

KKR will acquire the minority stake in Gland Pharma, including the entire stake held by private equity fund, Evolvence India Life science Fund, in the Hyderabad-based firm, KKR said in a statement. The size of the stake was not disclosed.

KKR’S latest investment in India underscores the positive outlook for generic drugmakers, despite some concerns about manufacturing quality after the recent crackdown by overseas regulators including the US Food and Drug Administration.

Private equity firm Actis last month invested $48 million in Symbiotec Pharmalab Ltd, a producer of steroid-hormone active pharmaceutical ingredients in India.

Indian drugmakers are among the world’s biggest producers of cheap generic medicines, as developed nations battle rising healthcare costs and big-selling drugs going off-patent in the lucrative US market.

Source: Business Standard

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, American Private Equity, US Private Equity, KKR, KKR & Co. L.P., Kohlberg Kravis Roberts, Hyderabad, Gland Pharma, Cardiovascular Drugs, Orthopedic Drugs, Evolvence India Life Science Fund, US Food, Drug Administration, Actis, Symbiotec Pharmalab Ltd, Indian Drugmakers, US Market.


Private Equity Firm Actis Acquires Cameroonian from AES

American energy giant AES is selling its Cameroon electricity assets to Actis Capital LLP, a private equity firm focused on investments in emerging markets in Africa, China, India, Latin America, and South East Asia, for a total cash consideration of $220 million.

The transaction is pending government and lender approval.

The investment gives Actis a 56 percent stake in Cameroon’s national integrated utility, Société Nationale d’Electricité (SONEL), and in two independent power plants, Kribi and Dibamba.

SONEL provides 933MW of generation and supplies electricity to over 800,000 customer connections throughout the country, while Kribi and Dibamba contribute a combined 300 MW towards Cameroon’s generation capacity.

While Actis will manage SONEL directly, Globeleq, Actis’ wholly owned private power company, will manage and operate Kribi and Dibamba.

Actis is an experienced energy investor supplying 10m customers with electricity every day.

Source: BusinessDay

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Africa Private Equity, China Private Equity, India Private Equity, Latin America Private Equity, South East Asia Private Equity, Actis, Actis Capital LLP, American Energy Giant, AES, Société Nationale d’Electricité, SONEL, Kribi, Dibamba, Globeleq.


Actis Bids 7.4 Billion Rand for South Africa pension Firm Alex Forbes

The Actis-led private equity consortium bidding for Alexander Forbes Ltd., Africa’s largest independent retirement-fund administrator, for a total cash of 7.4 billion rand ($980 million) in South Africa’s largest buyout deals on record, according to source.

Private equity firm Actis has said it would prefer to sell its stake in South African pension fund manager Alexander Forbes to another company rather than list the shares on a stock market.

“Our preference in most instances is a strategic sale,” Actis Africa head John van Wyk said in an interview late last month. “This usually translates into a better understanding of value and better pricing on a sale.”

Actis led an R8.2bn buy-out of Johannesburg-based Alexander Forbes in 2007 as part of a group that included Ethos Private Equity, Canadian fund managers Caisse de Depot et Placement du Quebec and the Ontario Teachers Pension Plan. There is a “process under way” that could lead to Actis’s exit 12 months from now, according to Mr van Wyk, with a sale and an initial public offering both being considered.

Alexander Forbes CEO Edward Kieswetter said on September 2 the company was planning an initial public offering (IPO) after June next year as the private equity shareholders seek to exit. Source

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Actis, Alexander Forbes, Alexander Forbes Ltd., Largest Buyout, Buyout, Buyout Fund, Leveraged Buyout, Buyout Firm, Pension Fund, South Africa Pension Fund, South African Pension Fund, Stock Market, John van Wyk, South Africa, Johannesburg, Ethos Private Equity, Canadian Fund Managers, Caisse de Depot et Placement du Quebec, Ontario Teachers Pension Plan, Edward Kieswetter, IPO.


Actis Invests $278M in Sub-Saharan Africa

Actis Capital LLP, a private equity firm focused on investments in emerging markets in Africa, China, India, Latin America, and South East Asia, has scored an extra $278 million into “property developments” in Sub-Saharan Africa region, according to BDLive reported.

This latest capital injection takes the firm’s entire African capital spending in its funds to approximately $433 million.

Louis Deppe, a director at Actis, believes that there is a lot of activity in the “private equity space” particularly in the region.

This has somewhat been prompted by the latest rise of actors like Rand Merchant Bank (RMB), Westport and Stanlib in the private equity space.

It is understood that the sub-Saharan Africa region, with the exception of South Africa, has insufficient investment in high profile estates (properties).

JSE-listed funds have allegedly shown little attraction to injecting money into the continent.

But the advancement of excellent stock by private equity companies is likely to attract bigger attention from the publicly traded sector, according to BDLive.

Actis has two real estate development funds and it claims to be the only pan-emerging private equity firm. Source

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Actis, Actis Capital LLP, Africa, China, India, Latin America, South East Asia, Sub-Saharan Africa, BDLive, African Funds, Louis Deppe, Rand Merchant Bank, RMB, Westport, Stanlib.


Balaji Wafers in Talks with Private Equity Funds to Raise Up to $125M

India’s snack maker Balaji Wafers is in separate talks with private equity funds, including The Blackstone Group L.P. and Actis Capital LLP, to increase between $100 million and $125 million, two sources with direct knowledge of the matter told Reuters.

The company has hired EY to find an investor, said the sources, who declined to be named as they were not authorised to speak to the media.

Chandu Virani, managing director of Balaji Wafers, confirmed that the company was in talks with private-equity investors, but declined to give details.

“We are looking for growth capital investment and are in talks. I cannot give further details or a time frame,” Virani told Reuters.

He said Balaji Wafers is the No.1 maker of savoury Indian snacks, called ‘namkeen’, in the western states of Gujarat, Maharashtra, Rajasthan and Madhya Pradesh.

Blackstone and Actis declined to comment.

Private equity investments in India were up 17.7 percent to $2.3 billion during the second quarter of this year compared to the same period last year, according to Venture Intelligence, an industry tracker. Source

 

Tags: Private Equity, Private Equity investment, India Private Equity, Private Equity fund, Fund of Private Equity fund, Private Equity Fund of Fund, Private Equity firm, Private Equity group, Balaji Wafers, Snack Maker, Blackstone Group, The Blackstone Group L.P., Blackstone, Actis, Actis Capital LLP, Chandu Virani, Reuters, Gujarat, Maharashtra, Rajasthan, Madhya Pradesh.


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