Brazilian meatpacker picks two banks to coordinate a potential IPO in London and the UAE for its Sadia Halal unit
Category: Middle East
Posted inDaily Brief
Abraaj sells Koba
Dubai-headquartered private equity fund sells Colombian retailer to Capital Group Private Markets
Posted inDaily Brief
Qatar Airways signs deal for LATAM stake
Middle Eastern airline will invest $613m for a 10% stake in Latin America’s largest carrier
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GP Investments gets funding for BR Properties deal
Private equity firm reaches an agreement with Abu Dhabi’s sovereign wealth fund to help acquire the Brazilian real estate developer
Posted inDaily Brief
Saudi agri-investor agrees 20% Minerva stake
Saudi Agricultural & Livestock Investment plans to inject $188m into Brazilian meat exporter
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BRF nets QNIE logistics arm
Brazilian food company closes purchase of Qatari frozen food distribution business
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Abraaj nets majority stake in Urbano
The Dubai-based PE firm aims to expand the company’s services
Posted inWeb Articles
Cabei paves way for Yen return
Multilateral lender considers return to Japanese Yen market for 2015 borrowing plan
Posted inDaily Brief
Middle Easterner Targets Afore Cash
Dubai-based investor Abraaj Group is preparing a fund for Mexico’s certificado de desarrollo de capital (CCD) market, according to regulatory documents. The size and timing for the 10-year fund remain to be determined. The fund will target private equity investment in “mid-size” Mexican businesses in need of growth capital, following the model of the Aureos Latin America Fund. Abraaj bought Aureos Captial, whose small and mid-size investment tickets usually fall in the $0.5m-$15.0m range, in 2012. A parallel private equity fund may be created to invest alongside the CCD funds. The return structure is expected to be principal plus an 8% preferred return, before distributing according to the 80%-20% model typical of private equity. Santander is managing the transaction. Abraaj manages $7.5bn globally, and its LatAm operation is managed from Mexico City, and led by Erik Petersen and Miguel Olea.
Posted inDaily Brief
EBX Loses CFO, Tweaks Mubadala Deal
Otavio Lazcano has resigned as CFO of Brazil’s EBX, the company says. CEO Eike Batista will step in to assume his duties. The move comes as several of the group’s operating companies face liquidity concerns and falling share and bond prices. Separately, EBX announced that has cut the exposure Abu Dhabi sovereign wealth fund Mubadala Development Company has to EBX. “EBX has redeemed a significant portion of Mubadala’s initial investment. EBX and Mubadala have also entered into new agreements ensuring enhanced protection vis-a-vis the remaining portion of the investment from Mubadala,” EBX says. The company did not respond to a request for clarification on the nature of the adjustment. Mubadala paid $2bn for a 5.63% stake in EBX in March 2012, one of a string of high-profile investments in Batista’s group from large players outside LatAm. OGX, the EBX unit in the weakest position, saw its 2018 bonds fall 3-5 points to around 19-20 Wednesday, according to a trader.