Darby Sells Stake in Mexican Company

US-based private equity firm Darby Overseas says its DLAMF fund has divested a 37% stake privately traded Mexican outdoor media company ISA Corporativo. It does not disclose the price. However, press reports indicate that Darby made its initial mezzanine investment in ISA in late 2003 for $16m. In the past, Darby executives have indicated that internal rates of return for private equity investments are usually between the high teens and low 20%s. Officials from both Darby and ISA Corporativo do not return calls for comment. This is the seventh Mexican portfolio company Darby has sold and the 11th for the DLAMF fund.