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TLG Capital has furthered its Ugandan portfolio by signing an agreement to acquire a 20 per cent stake in Vero Food Industries, whose primary focus is the production of mineral water and rice.
Due to start operations in the next couple of months, Vero Food Industries is set to be among the largest producers of these products in the region, with the ability to produce over 42,000 bottles of mineral water a day.
One of the main aims of the company is to promote and strengthen indigenous food production with the view of increasing local production. This in turn will
UK private equity firm Sovereign Capital has hired Luke Kingston, Jonathan Marlow, Jonathan Kay, Ross Coull and Elizabeth Buckle.
Kingston joins Sovereign’s deal team from Ernst & Young. He has significant buy-side advice experience having completed numerous transactions with a variety of private equity houses. He also brings six years of support services focus to Sovereign as well as more than a decade of advising entrepreneurs in the UK lower mid-market.
Marlow joins Sovereign’s deal team from Barclays Ventures. Marlow has principal investing experience having completed a number of deals across a variety of sectors, including most recently, two
Michel Davy has been appointed as managing director for Ipes in Guernsey.
The appointment, which is an internal promotion, was approved by the GFSC earlier this month.
Davy will spearhead the development of the Guernsey business, overseeing key client relationships and taking a lead role in building relationships with the professional community.
He will work closely with group chief executive Kevin Brennan.
“As Ipes has grown here in Guernsey and expanded into other jurisdictions, we now have a requirement for someone at a senior level to head up our Guernsey business,” says Brennan. “Michel’s experience on the operational side of
Brunswick Group maintained its lead at the top of the global mergers and acquisitions league tables by value, with a USD82bn lead over second placed Joele Frank Wilkinson Brimmer Katcher, according to a report by mergermarket.
Brunswick advised on 131 deals worth a total of USD224bn. FD advised on 25 more deals than Brunswick, taking the firm to the top of the league tables by volume.
Herbert Smith/Gleiss Lutz/ Stibbe was the most active PR adviser within the emerging markets, advising on 20 transactions worth a total of USD65.1bn. Cleary Gottlieb Steen & Hamilton followed with USD 53.4bn from 21
WI Harper Group, a Chinese expansion and early growth stage private equity firm, has appointed Savio Tung, founding partner and chairman of the technology investment committee of Investcorp, to its advisory board.
Tung will counsel WI Harper on building its investment platform and on major market trends and investment strategies in Asia and the US.
"Today’s global investment community is increasingly focused on China to drive growth in their portfolios. WI Harper is a well-established leader in expansion and early growth capital in that region," says Peter Liu, founder and chairman, WI Harper. "Savio Tung has built global private
Guernsey has signed a tax information exchange agreement with Greece.
It was signed by Guernsey’s chief minister Lyndon Trott (pictured) and Ilias Plaskovitis, secretary general of the Ministry of Finance in Greece.
Plaskovitis signed the agreement during the Global Forum on Transparency and Exchange of Information for Tax Purposes, which took place in Singapore on 29 September. The document was then transported back to Guernsey by Rob Gray, Guernsey’s director of income tax, for counter-signature by the chief minister on 8 October.
Trott says: “I am delighted that Guernsey has signed another international tax agreement with an EU member state.
The California Public Employees’ Retirement System is severing its ties with Pacific Corporate Group as part of the pension fund’s ongoing strategic review of its private equity programme and investment partners.
Aviva Capital, a former joint venture partner with PCG, will continue to manage over USD1bn of invested and committed capital in two emerging markets investment vehicles for Calpers – Global Opportunities Fund 1 and 2 – under an independent investment team, and will be announcing a new name for the company in the near future.
Calpers has also tapped Capital Dynamics to take over management of its Clean Energy
Affiliates of Bain Capital have agreed to acquire all the outstanding stock of retail firm Gymboree for USD65.40 per share, or USD1.8bn.
Under the terms of the agreement, which has been unanimously approved by Gymboree’s board of directors, Gymboree stockholders will receive USD65.40 in cash for each outstanding share of Gymboree common stock they own.
This represents a 57.4 per cent premium to the company’s unaffected share price on 30 September 2010, before recent market rumours of a transaction, and a 23.5 per cent premium to Gymboree’s closing stock price on 8 October, the last full trading day before the
Throgmorton, a UK accountancy and professional services provider to the hedge fund, private equity and corporate finance industries, has appointed Adam Hewitson as internal legal counsel and corporate financier Roger Looker to the board as a non-executive director.
Looker has a long track record working in the corporate governance arena over the past three decades and will act as a senior adviser for Throgmorton in company best practise.
Hewitson (pictured) has been appointed to further strengthen the management team. He will support all business areas.
Having begun his career at County Bank, Looker co-founded Gilbert Elliot Corporate Finance in
IK Investment Partners, a Pan-European private equity firm, has agreed to acquire 99.74 per cent of Hansa Metallwerke, which includes its Swiss subsidiary KWC, from its current owners.
The Hansa Group is a provider of sanitary fittings for bathrooms and kitchens in Germany, Switzerland and Austria with revenues of EUR194m in 2009.
The Hansa Group is headquartered in Stuttgart and employs approximately 1,000 people worldwide.
IK has experience in the building materials sector with investments such as Etanco, a designer, manufacturer and distributer of building fastener and fixing systems in France, and realised investments including Nobia, a manufacturer and retailer
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