BENTONVILLE, Ark., Feb. 19, 2012 /PRNewswire/ – Wal-Mart Stores, Inc. (NYSE: WMT – News) announced today that it has reached an agreement to increase its investment in the holding company of Yihaodian, a fast-growing eCommerce website in China, to bring Walmart’s total ownership stake to approximately 51 percent. Closing of the transaction is subject to Chinese government regulatory approval.
Launched in July 2008, Yihaodian offers more than 180,000 SKUs and has achieved a significant position in online grocery sales, as well as in categories such as baby/mom, consumer electronics and apparel. With 5,400 employees and an existing logistics network based in Shanghai, Beijing, Guangzhou, Wuhan and Chengdu, Yihaodian is serving a growing customer base with same-day and next-day delivery of essential daily items at competitive prices.
Neil Ashe, President and CEO of Walmart Global eCommerce, said, “This investment further enables Walmart to deliver a superb customer experience to Chinese consumers that are already connected to the world through smart phones and social media. We are on track to create the next generation of eCommerce, offering the latest in online innovations to give our customers a unique shopping experience.”
“We are very impressed with Yihaodian’s strong management team, solid competence in supply chain management and, like Walmart, they are committed to outstanding service to their customers,” Ashe continued. “Our further investment in Yihaodian demonstrates that we are committed to investing in China in a key growth industry and developing all that goes with it: logistics, infrastructure, innovative talent and new technologies that will help China meet its development goals. In addition to contributing to China’s eCommerce goals, with our increased investment in Yihaodian, we are pleased to be able to further contribute to China’s domestic consumption, help stabilize prices, and advance expansion in the middle and western regions.”
Gang Yu, co-founder and chairman of Yihaodian, said, “Walmart not only brings us nearly 50 years of retailing experience and history, but also innovative technology and eCommerce solutions that will help us better meet our customers’ needs. Their excellence in supply chain will enable us to improve our customer experience and operational efficiency.”
Junling Liu, co-founder and CEO of Yihaodian, said, “More than an investment of funds, Walmart will share its knowledge and technology together with its best-in-class practices in retail and transfer them to Yihaodian’s existing organization, leveraging these synergies with our local market expertise to deliver enhanced product offerings, lower prices and a better shopping experience for our customers.”
Ruisheng Sheng, spokesperson for Ping An Group, said, “Ping An welcomes the investment from Walmart. We continue to be a strategic investor in this exciting eCommerce business. With Walmart’s and Ping An’s strategic partnership and with the vision and leadership of the current management, we believe that Yihaodian will better serve Chinese consumers.”
About WalmartWal-Mart Stores, Inc. (NYSE: WMT – News) serves customers and members more than 200 million times per week at over 10,000 retail units under 69 different banners in 28 countries. With fiscal year 2011 sales of $419 billion, Walmart employs 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://walmartstores.com and on Twitter at http://twitter.com/walmart. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.
About YihaodianLaunched in 2008, Yihaodian has become one of the leading B2C e-commerce companies in China. Offering more than 180,000 products, Yihaodian runs logistics centers in Shanghai, Beijing, Guangzhou, Wuhan, and Chengdu, along with delivery stations in 34 cities across China. Yihaodian is one of the fastest growing companies in China, and has earned first place for Deloitte Technology Fast500 Asia Pacific and first place for China Entrepreneur Magazine’s Future Stars of China Enterprises in 2011. Through innovation, Yihaodian is committed to bringing its customers a new lifestyle of one-stop online shopping and services with superior experience. For more information, please visit www.yihaodian.com.
About Ping An GroupPing An Insurance (Group) Company of China, Ltd (Hong Kong Stock Exchange under stock code “2318″& Shanghai Stock Exchange under “601318″) was established in 1988 in Shekou, Shenzhen. The Group is the first insurance company in China to have a shareholding structure. Today it has developed into an integrated financial services conglomerate with three core businesses: insurance, banking, and investment. Ping An was ranked No.147 in Forbes’ Global 2000 league table, No.107 in The Financial Times Global 500 list, and No.328 in Fortune Magazine’s Global 500 Leading Companies ranking and No.1 among China’s non-State owned enterprises. For more information please visit www.pingan.com.http://tourism9.com/ http://vkins.com/
2012年2月1日星期三
THL Credit Closes New Investment and Announces Its Third Successful Realization
BOSTON, Feb. 1, 2012 (GLOBE NEWSWIRE) — THL Credit, Inc. (Nasdaq:TCRD – News) (“THL Credit”) today announced that it participated in the financing of Express Courier International, Inc.’s (“Express Courier”) acquisition of EagleOne, Inc., a provider of same-day courier services in the Southern United States. THL Credit and its managed fund, THL Credit Greenway Fund LLC, provided senior subordinated debt capital as part of the acquisition.
Express Courier, a portfolio company of The Riverside Company (“Riverside”), is headquartered in Franklin, Tennessee, and specializes in same-day and regularly scheduled delivery of time-sensitive or confidential materials across a range of industries.
“We are pleased to once again be partnering with Riverside,” said Kunal Soni, Managing Director of THL Credit. “This transaction continues THL Credit’s strategy of partnering with sponsors and management teams of strong companies in growing industries. With its strong regional presence, long-standing customer relationships and differentiated service offering, Express Courier is uniquely positioned to take advantage of new opportunities and continued expansion in the same-day delivery market.”
Separately, THL Credit announced the exit of its investment in Anytime Worldwide (“Anytime”) with $15.0 million of proceeds in December 2011, including the repayment of its loan along with a prepayment premium and the monetization of its equity position. Anytime CEO Chuck Runyon added, “THL Credit has been a valuable partner. The lending and support provided by THL Credit’s team helped us realize the best two-year performance in our company’s history.”
The Anytime exit marks THL Credit’s third realization since inception. Its investments in Intelligrated and SiVance were also fully realized in February 2011 and September 2011, respectively.
About THL Credit
THL Credit is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.
THL Credit is headquartered in Boston, with additional investment teams in Los Angeles and Houston. THL Credit invests primarily in junior capital securities, including subordinated debt and second lien secured debt, which junior capital may include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit may also selectively invest in first lien secured loans. THL Credit targets investments in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. THL Credit’s investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.
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Express Courier, a portfolio company of The Riverside Company (“Riverside”), is headquartered in Franklin, Tennessee, and specializes in same-day and regularly scheduled delivery of time-sensitive or confidential materials across a range of industries.
“We are pleased to once again be partnering with Riverside,” said Kunal Soni, Managing Director of THL Credit. “This transaction continues THL Credit’s strategy of partnering with sponsors and management teams of strong companies in growing industries. With its strong regional presence, long-standing customer relationships and differentiated service offering, Express Courier is uniquely positioned to take advantage of new opportunities and continued expansion in the same-day delivery market.”
Separately, THL Credit announced the exit of its investment in Anytime Worldwide (“Anytime”) with $15.0 million of proceeds in December 2011, including the repayment of its loan along with a prepayment premium and the monetization of its equity position. Anytime CEO Chuck Runyon added, “THL Credit has been a valuable partner. The lending and support provided by THL Credit’s team helped us realize the best two-year performance in our company’s history.”
The Anytime exit marks THL Credit’s third realization since inception. Its investments in Intelligrated and SiVance were also fully realized in February 2011 and September 2011, respectively.
About THL Credit
THL Credit is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.
THL Credit is headquartered in Boston, with additional investment teams in Los Angeles and Houston. THL Credit invests primarily in junior capital securities, including subordinated debt and second lien secured debt, which junior capital may include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit may also selectively invest in first lien secured loans. THL Credit targets investments in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. THL Credit’s investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.
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2012年1月9日星期一
PLUS issues world’s largest Sukuk worth RM30.6 billion
KUALA LUMPUR: Projek Lebuhraya Usahasama Bhd (PLUS) is set to issue RM30.6 billion Sukuk –the largest global Sukuk and Malaysia’s single largest bond issuance to date.
The Sukuk issuance, scheduled for Jan 12, follows the privatisation of PLUS Expressways Bhd (PEB) and the restructuring of the toll concessions under PEB and Penang Bridge Sdn Bhd (PBSB).
The concession agreements of these highways will be novated to PLUS, a wholly owned subsidiary of PLUS Malaysia Sdn Bhd – the investment vehicle of UEM Group Bhd (51 percent) and the Employees Provident Fund Board (EPF; 49 per cent).
Proceeds from the Sukuk issuance will be utilised to part finance the purchase of assets, liabilities, businesses, undertakings and rights of five toll concessions.
They include Projek Lebuhraya Utara-Selatan Bhd, Expressway Lingkaran Tengah Sdn Bhd, Konsortium Lebuhraya Butterworth-Kulim Sdn Bhd, Linkedua (Malaysia) Bhd and PBSB.
The proceeds will also be utilised to fund capital expenditure, working capital and other general funding requirements.
PLUS had successfully raised the required long term financing via the establishment of up to RM34.35 billion nominal value Islamic Medium Term Notes Programmes within a compressed timeline notwithstanding the magnitude of the issuance size.
The repayment profile of the Sukuk ranges from 5 to 27 years and the weighted average yield is approximately 5 per cent.
The Sukuk was accorded the highest long-term rating of AAA by Malaysian Rating Corporation Bhd (MARC), reflecting the strong credit strength of PLUS Bhd and its importance to the Malaysian Government.
A signing ceremony was held recently to commemorate the establishment and issuance of the Sukuk.
The signatories were Datuk Izzaddin Idris, Group Managing Director/Chief Executive Officer of UEM Group, and Datuk Shahril Ridza Ridzuan, Deputy Chief Executive Officer (Investment) of the EPF.
Other signatories included Datuk Seri Nazir Razak, Group Chief Executive, CIMB Group. CIMB Investment Bank Bhd was appointed the Financial Adviser, Sole Principal Adviser, Sole Lead Arranger and Joint Lead Manager for the transaction.
Representing other Joint Lead Managers of the transaction and present at the signing ceremony were Kok Tuck Cheong, CEO of AmInvestment Bank Bhd; Datuk Seri Abdul Wahid Omar, President and CEO of Maybank Group; and Mike Chan, Officer-in-Charge of RHB Investment Bank.
Commenting on the transaction, Izzaddin Idris said: “The successful issuance and strong demand for our Sukuk demonstrates the depth and liquidity of the local market. It is also an indication of investors’ confidence towards PLUS’ operations and assets.
“I am pleased that not only are we able to successfully issue one of the world’s largest Sukuk but we are able to play a role in further enhancing Malaysia’s prominence in international Islamic capital markets in line with the Government’s aspiration to establish Malaysia as an Islamic financial hub.”
Shahril Ridza Ridzuan added: “We are confident our investment in PLUS will provide a long term and stable source of income that fits EPF’s risk-return criteria. This investment is part of our overall strategic allocation of assets into low volatility and long-term sectors. The successful Sukuk fund-raising exercise will secure a long-term profile of returns that matches our asset-liability requirements.”
Nazir commented on the significance of the event, saying: “The signing ceremony represents the culmination of our joint efforts, and I am proud to say that we have made a few landmark deals along the way.
“At RM23 billion, PEB’s delisting was the largest privatisation exercise in 2011 and the 2nd largest ever in Malaysia. And to fund this privatisation as well as the purchase of PBSB from UEM Builders Bhd, we arranged the largest syndicated loan in ASEAN in 2011. But the icing on the cake must surely be the Sukuk issuance – at RM30.6 billion, the largest ever Sukuk issuance in the world,” he said
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The Sukuk issuance, scheduled for Jan 12, follows the privatisation of PLUS Expressways Bhd (PEB) and the restructuring of the toll concessions under PEB and Penang Bridge Sdn Bhd (PBSB).
The concession agreements of these highways will be novated to PLUS, a wholly owned subsidiary of PLUS Malaysia Sdn Bhd – the investment vehicle of UEM Group Bhd (51 percent) and the Employees Provident Fund Board (EPF; 49 per cent).
Proceeds from the Sukuk issuance will be utilised to part finance the purchase of assets, liabilities, businesses, undertakings and rights of five toll concessions.
They include Projek Lebuhraya Utara-Selatan Bhd, Expressway Lingkaran Tengah Sdn Bhd, Konsortium Lebuhraya Butterworth-Kulim Sdn Bhd, Linkedua (Malaysia) Bhd and PBSB.
The proceeds will also be utilised to fund capital expenditure, working capital and other general funding requirements.
PLUS had successfully raised the required long term financing via the establishment of up to RM34.35 billion nominal value Islamic Medium Term Notes Programmes within a compressed timeline notwithstanding the magnitude of the issuance size.
The repayment profile of the Sukuk ranges from 5 to 27 years and the weighted average yield is approximately 5 per cent.
The Sukuk was accorded the highest long-term rating of AAA by Malaysian Rating Corporation Bhd (MARC), reflecting the strong credit strength of PLUS Bhd and its importance to the Malaysian Government.
A signing ceremony was held recently to commemorate the establishment and issuance of the Sukuk.
The signatories were Datuk Izzaddin Idris, Group Managing Director/Chief Executive Officer of UEM Group, and Datuk Shahril Ridza Ridzuan, Deputy Chief Executive Officer (Investment) of the EPF.
Other signatories included Datuk Seri Nazir Razak, Group Chief Executive, CIMB Group. CIMB Investment Bank Bhd was appointed the Financial Adviser, Sole Principal Adviser, Sole Lead Arranger and Joint Lead Manager for the transaction.
Representing other Joint Lead Managers of the transaction and present at the signing ceremony were Kok Tuck Cheong, CEO of AmInvestment Bank Bhd; Datuk Seri Abdul Wahid Omar, President and CEO of Maybank Group; and Mike Chan, Officer-in-Charge of RHB Investment Bank.
Commenting on the transaction, Izzaddin Idris said: “The successful issuance and strong demand for our Sukuk demonstrates the depth and liquidity of the local market. It is also an indication of investors’ confidence towards PLUS’ operations and assets.
“I am pleased that not only are we able to successfully issue one of the world’s largest Sukuk but we are able to play a role in further enhancing Malaysia’s prominence in international Islamic capital markets in line with the Government’s aspiration to establish Malaysia as an Islamic financial hub.”
Shahril Ridza Ridzuan added: “We are confident our investment in PLUS will provide a long term and stable source of income that fits EPF’s risk-return criteria. This investment is part of our overall strategic allocation of assets into low volatility and long-term sectors. The successful Sukuk fund-raising exercise will secure a long-term profile of returns that matches our asset-liability requirements.”
Nazir commented on the significance of the event, saying: “The signing ceremony represents the culmination of our joint efforts, and I am proud to say that we have made a few landmark deals along the way.
“At RM23 billion, PEB’s delisting was the largest privatisation exercise in 2011 and the 2nd largest ever in Malaysia. And to fund this privatisation as well as the purchase of PBSB from UEM Builders Bhd, we arranged the largest syndicated loan in ASEAN in 2011. But the icing on the cake must surely be the Sukuk issuance – at RM30.6 billion, the largest ever Sukuk issuance in the world,” he said
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2012年1月3日星期二
Norwest Equity Partners Invests in Agricultural Product Manufacturer Actagro
MINNEAPOLIS–(BUSINESS WIRE)– Norwest Equity Partners (“NEP”), a leading middle market investment firm, announced today that it has made a significant investment in Actagro, LLC (or the “Company”), a leading developer, manufacturer, and marketer of organic liquid and specialty plant nutrients. NEP invested alongside a group of Actagro employees in this transaction, which closed on December 30, 2011.
With products designed to complement conventional plant nutrition, Actagro is committed to helping progressive and profitable growers achieve higher, more cost effective crop yields through agronomically sound plant nutrition programs. Actagro creates products that are more stable than most liquid fertilizers and allow for more efficient plant uptake. Sold to agricultural retailers and distributors, Actagro products allow for lower amounts of fertilizer and nutrients, offering an environmentally sustainable and lower cost solution for growers.
Agriculture investment opportunities are a primary focus for NEP. In 2004, NEP invested in Becker Underwood, an Iowa-based global supplier of non-pesticide specialty chemical and biological products. Since its investment, NEP has helped the company more than double in size, broadening its global footprint. NEP was initially introduced to Actagro five years ago and has since followed the Company’s success, led by CEO Carl Ueland and his management team. NEP’s investment in Actagro is a natural fit with the firm’s agriculture investment strategy.
Todd Solow, NEP partner and Actagro board member, stated, “We are excited to have the opportunity to partner and work with Carl and the entire Actagro team. They operate an extremely well-run company with best-in-class, proprietary manufacturing. It has performed very well within this niche market and is well-positioned for continued momentum and growth.”
Ueland shared, “This new investment partnership marks an exciting time for our company. We look forward to a promising future and to working together with the NEP team.”
Founded in 1980 and headquartered in Biola, California, Actagro has more than 60 employees and operates manufacturing facilities in Biola and Osceola, Arkansas. Actagro has been majority-owned by RedCloud Capital since 2008. For more information, please visit www.actagro.com.
Norwest Mezzanine Partners, GE Antares Capital and Madison Capital Funding participated in the financing for this transaction.
Partnering with business owners since 1961, Norwest Equity Partners (NEP) is a leading investment firm focused on building companies into industry leaders. With a reputation for quality investments and exceptional financial returns, NEP manages $5 billion of capital through a series of equity and mezzanine funds. The firm is currently investing NEP IX, with $1.2 billion in capital.
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With products designed to complement conventional plant nutrition, Actagro is committed to helping progressive and profitable growers achieve higher, more cost effective crop yields through agronomically sound plant nutrition programs. Actagro creates products that are more stable than most liquid fertilizers and allow for more efficient plant uptake. Sold to agricultural retailers and distributors, Actagro products allow for lower amounts of fertilizer and nutrients, offering an environmentally sustainable and lower cost solution for growers.
Agriculture investment opportunities are a primary focus for NEP. In 2004, NEP invested in Becker Underwood, an Iowa-based global supplier of non-pesticide specialty chemical and biological products. Since its investment, NEP has helped the company more than double in size, broadening its global footprint. NEP was initially introduced to Actagro five years ago and has since followed the Company’s success, led by CEO Carl Ueland and his management team. NEP’s investment in Actagro is a natural fit with the firm’s agriculture investment strategy.
Todd Solow, NEP partner and Actagro board member, stated, “We are excited to have the opportunity to partner and work with Carl and the entire Actagro team. They operate an extremely well-run company with best-in-class, proprietary manufacturing. It has performed very well within this niche market and is well-positioned for continued momentum and growth.”
Ueland shared, “This new investment partnership marks an exciting time for our company. We look forward to a promising future and to working together with the NEP team.”
Founded in 1980 and headquartered in Biola, California, Actagro has more than 60 employees and operates manufacturing facilities in Biola and Osceola, Arkansas. Actagro has been majority-owned by RedCloud Capital since 2008. For more information, please visit www.actagro.com.
Norwest Mezzanine Partners, GE Antares Capital and Madison Capital Funding participated in the financing for this transaction.
Partnering with business owners since 1961, Norwest Equity Partners (NEP) is a leading investment firm focused on building companies into industry leaders. With a reputation for quality investments and exceptional financial returns, NEP manages $5 billion of capital through a series of equity and mezzanine funds. The firm is currently investing NEP IX, with $1.2 billion in capital.
http://tourism9.com/
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