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The shareholders of Lazada will receive proceeds of more than a billion US dollars from the takeover of the South East Asian shopping portal by Chinese internet firm Alibaba.
The sellers, who include more than 20 existing shareholders such as Rocket Internet, Tesco, Kinnevik, Summit Partners and JP Morgan relied on Noerr’s advice during the transaction (which Lazada values at USD3.15 billion) similar to the investment in Alibaba a year ago.
The acquisition means that Alibaba will increase its stake in Lazada from 51 to 83 per cent. The sale results from the put-call agreement that was announced in
BGF has successfully exited its minority stake in North-East chemicals manufacturer Chemoxy International Ltd. The company has been acquired by a French based trade buyer, Novacap SAS, as it seeks to expand its Performance Chemicals division and geographical presence.
BGF invested GBP10 million into Chemoxy in February 2015 and, as a minority partner, has backed the company’s management team since then. BGF’s funding supported growth in Chemoxy at both its Middlesbrough and Billingham sites, which has included acquisition of new customers, expansion of technical capabilities and further development of its proprietary product range, most notably ChemoxyCare, an emollient in personal care
Foresight Group’s Foresght VCT (F1) has completed the successful sale of Simulity Labs Limited (Simulity) to ARM, a specialist semiconductor IP company.
F1 received circa GBP11.4m at completion and will receive up to GBP 0.3 million of deferred consideration after 12 months subject to certain conditions, implying a cash on cash return of circa 3x on the GBP4 million invested in October 2016, or an IRR of circa 400 per cent. NAV per ordinary share for F1 has consequentially increased 3.2p from March 2017, all other things being equal.
Simulity provides embedded operating system software and related server systems
With the successful closing of the acquisitions of the global Darex Packaging Technologies business and the Sonderhoff Group, Henkel has strengthened its Adhesive Technologies business and technology portfolio with the successful closing of the acquisitions of Darex Packaging Technologies and the Sonderhoff Group.
Darex is based in Cambridge, MA, USA and supplies high-performance sealants and coatings for the metal packaging industry around the world. It serves various global customers producing beverage, food or aerosol cans. The acquisition was announced at the beginning of March. The purchase price amounted to 1,050 million US dollars (around 919 million euros) on a cash
Leading mid-market private equity firm LDC has exited its investment in The Creative Engagement Group (TCEG) in a strategic trade sale to Huntsworth plc, an international healthcare and public relations communications group. The deal is at an enterprise value of GBP25 million.
TCEG is a group of three creative agencies – WRG, The Moment and Just Communicate – that provide experiential marketing, including events, digital marketing, virtual and augmented reality. The group serves an international client base of blue chip companies and has significant expertise in the healthcare sector, along with professional services, banking, leisure and tourism.
LDC originally
Ogier has advised Emperor International Holdings Limited (Emperor) in Luxembourg on the acquisition of Soho’s Ampersand Building.
Emperor, a Hong-Kong based investment holding company, which is principally engaged in property investments, property development and self-run hotel, purchased the building for GBP260 million.
Partners Fabien Debroise and Bertrand Geradin led the Ogier teams in Luxembourg, working alongside Mayer Brown LLP, English and lead counsel to Emperor, on the transaction.
MPC Capital AG, a global investment manager for real assets, has launched MPC Renewables Panama, based in Panama City, Panama.
MPC Renewables Panama will support the development, management and further expansion of the company’s renewable energies projects throughout Central America and the Caribbean.
MPC Capital also announced that Fernando Zúñiga has been appointed as MPC Renewables Panama’s Regional Director for Central America and the Caribbean.
“Central America and the Caribbean is a key region for the growth of our renewable energy business,” says Dr Roman Rocke, Management Board Member, MPC Capital AG. “Having an office in Panama City,
Investment firm Octopus Titan Venture Capital Trust intends to raise GBP200 million when it opens towards the end of the summer, making it the biggest VCT fundraise ever.
Alex Davies (pictured), CEO and founder of Wealth Club, the online investment platform for High Net Worth Individuals (HNWIs) says: “This is the biggest VCT raise ever and reflects the fact VCTs are becoming an increasingly mainstream investment option. With cuts to the pension allowances, restrictions on buy to let investing and more onerous taxation we expect demand to be greater than ever.”
In the 2016/17 tax year, VCTs saw the
By Gaurav Marwah, Technical Director, and Hugh Stacey, Executive Director, Investor Solutions, Augentius – Sustained top performance means continued evolution and change. Technology became ever more accessible in the 1990s when personal computers began appearing in every home. But if you’re a tech-savvy person today, you’re not using a dial-up connection on a desktop computer. Everyone knows you can’t be successful today using 1990s technology.
Similarly, private equity players can no longer use a 1990s-era rulebook to structure funds. The world is a more complex place than it was two decades ago. There’s a different playbook now, and LPs and
LDC-backed contact centre technology and services group Connect Managed Services (Connect) has today completed the acquisition of PC-1 for an undisclosed sum.
Connect provides round-the-clock availability and pain-free transformation of business-critical contact centre and UC (unified communications) environments for global clients from financial services firms such as Barclays to household names including Tesco.
Mid-market private equity investor LDC previously backed the multi-million pound management buyout of Connect in April 2014. The acquisition of PC-1 forms part of Connect’s strategy to broaden its practice areas of expertise with market leading technologies, expand its reach and build scale in its chosen
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