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Alternative asset manager The Carlyle Group has made an investment in Scalina, Brazil’s largest manufacturer and retailer of woman’s hosiery and lingerie.
Financial terms were not disclosed.
Carlyle director Juan Carlos Felix says: “Scalina is a well managed company with excellent growth opportunities. We are pleased to partner with company founders Ronaldo and Bruno Heilberg as we tap into the expanding demand for quality hosiery and lingerie among Brazil’s growing consumer market.”
Scalina produces a variety of products under two flagship brands – TriFil and Scala – including pantyhose, socks, shape ware and lingerie. Scalina has patents under review by
The Brazilian government recently announced an “immediately binding” decision that appears to outlaw all foreign ownership of Brazilian farmland. Stephen Johnston (pictured) of Agcapita Partners outlines the implications.
Food supply questions are even more politically charged than questions of energy sovereignty. The UN has consistently stated that foreign direct investment into farmland has the potential to generate severe political backlash.
In practice, countries as diverse as New Zealand, Russia, India, Argentina, Indonesia, and Kazakhstan have imposed or are considering restrictions on agriculture ranging from export tariffs to proposals for outright nationalisation.
Further to this, the Brazilian government recently announced a
Private equity firm Candover Investments has ended months of uncertainty over its future by announcing that it is to wind itself up.
The decision, which comes after a failed attempt last month to sell the business, means that Candover is now looking to sell its portfolio companies and return cash to shareholders.
The economic downturn has caused problems for many private equity houses with debt-laden portfolio companies struggling to meet loan repayments, but Candover’s complicated structure, which saw a listed parent co-investing alongside an independent but wholly owned fund manager, Candover Partners, is thought by many analysts to be
Private equity firm Origo Partners has acquired a 16.5 per cent stake in Unipower Battery for an aggregate amount of USD4.3m.
Unipower is a new venture established to provide lithium-ion batteries and related materials to China’s burgeoning electric vehicle market.
The company is in the process of being spun out from the Huanyu Group, one of the largest privately held rechargeable battery manufacturers in China.
The Chinese government targets to achieve production capacity of 500,000 electric and hybrid cars in China by 2011. It has recently drafted the 2011-2020 new energy automobile development plan, which recommends over RMB100bn (USD15bn)
Channel Islands law firm Carey Olsen has advised a new Jersey fund, GCP Infrastructure Investments, on its listing on the Main Market of the London Stock Exchange.
The fund has been created by Gravis Capital Partners, an investment advisory firm currently managing assets with a principal value in excess of GBP400m.
The initial listing of the fund has raised GBP40m and aims to provide investors with a long-term return of eight per cent per annum by advancing subordinated debt to the holders of private finance initiative assets, typically long dated, secure quasi-UK government concessions for the provision of hospitals and
Accel Partners is investing EUR37m in Showroomprive.com, a members’ only fashion e-commerce site which sells designer brands at discount prices.
Showroomprive.com was founded in France but entered the Spanish market this year.
The investment is part of a wider range of investments Accel is making in the area of social commerce – where retailers use the social graph in some way to create new e-commerce models. Other investments in this space include Groupon, ModCloth, and KupiVIP (the Russian website).
The deal was led by Harry Nelis and Ryan Sweeney, both of whom will be joining Showroomprive’s board.
Eurazeo has reported group net income of EUR88.5m for the first half of 2010, compared with a loss of EUR120.9m for the first half of 2009.
Consolidated revenues totalled EUR1,892.9m, an increase of 4.5 per cent with more pronounced second quarter growth.
The completion of the optimised divestiture programme of Danone shares contributed to Eurazeo cash assets of EUR725m as of 25 August 2010.
The group also refinanced Europcar’s fleet, supported the creation of hotel group Accor and prepaid services provider Edenred, committed for the divestiture of B&B Hotels, and launched Eurazeo Croissance, which made its first investment in Fonroche.
J.P. Morgan has been appointed depositary bank by the India-based producer of synthetic, cotton and blended yarns, Jindal Cotex.
It follows the company’s recent USD38.5m global depositary receipt listing on the Luxembourg Stock Exchange.
“We are extremely pleased to have launched our GDR offering in Europe,” says Sandeep Jindal, managing director of Jindal Cotex. “J.P. Morgan’s depositary receipts team was selected for its recognised leadership and expertise and its remarkable professionalism.”
Kenneth Tse, Asia Pacific head of J.P. Morgan’s depositary receipts group, adds: “We are extremely pleased to have been appointed by Jindal Cotex as its depositary bank.
Otonomy, a biopharmaceutical company developing drug therapies for disorders of the inner and middle ear, has closed a USD38.5m series B financing co-led by Novo Ventures and RiverVest Venture Partners and joined by Domain Associates and TPG Biotech.
This financing is incremental to the USD10m series A closed with Avalon Ventures in June 2010. Avalon also participated in the series B round.
Proceeds from the financing will support Otonomy’s first two programmes through pivotal clinical studies as well as expansion of the company’s pipeline of locally delivered drugs to treat disorders of the ear.
"We are delighted to have participation
Platte River Ventures has taken a controlling stake in Global X-Ray & Testing in partnership with the company’s founding family.
Headquartered in Morgan City, Louisiana, Global X-Ray is a provider of non-destructive testing and evaluation services to the oil and gas industry.
"We are very excited and looking forward to working with our new partners at Platte River Ventures," says Chris Moreau, chief executive of Global X-Ray. "We feel that the experience of Platte River’s principals and their access to additional capital will allow Global X-Ray to achieve long-term success and will help our company innovate and shape the future
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