|
Citigroup Venture Capital International (CVC) has acquired approximately 15 percent stake in Globe Capital Market for USD 41.37 million. Through the deal, Globe Capital’s valuation has reached between USD 277.46 million and USD 413.67 million. The amount will be leveraged in expanding Globe Capital’s retail network and arbitrage business. A representative of CVC will be appointed as Globe Capital’s Board member.
Recently, Globe Capital was permitted by Securities and Exchange Board of India (SEBI) to acquire ICON Capital, a US-based equipment leasing and finance company. The company also established its operations in Dubai.
Founded in 1999 in Hong Kong, CVC is a global PE group, with focus on the Asia-Pacific region. |