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It's been a busy week for TPG. Hot on the heels of speculation that it will invest $5 billion in Washington Mutual Inc., the Financial Times is reporting that the buyout firm is making Russia's largest ever middle-market deal.
The private equity firm is paying $800 million for a 50% stake in pharmaceuticals distribution company SIA International. The all-cash deal leaves SIA's founder and majority owner Igor Rudisnsky with control of the other 50% of the company. The willingness of TPG to put such a large piece of equity in Russia could signal to other private equity firms that the Russian market is now safe to return to. The industry had shied away from Russia due in part to political risks. The Carlyle Group pulled out of the country three years ago, shutting down its Moscow office, and saying that the risks did not justify continuing to invest there. - George White See Financial Times story See Deal.com story on WaMu See Deal.com story on Carlyle CategoriesCommentsPrivate capital video
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I have posted some more deal details on our blog at http://blog.quintura.com