PRINT THIS PAGE Baring Latin America Partners announces three successful exits17/07/2002. Source: AltAssets. 
 Exit channels may be sticky in the developed economies but there are still signs of life elsewhere in the world. Baring Latin America Partners has announced three successful exits in South America.
The firm did not disclose the terms of the transactions but said they demonstrated the strong potential in these less crowded markets.
Varel D Freeman, managing partner of Baring Latin America Partners, said: ‘These portfolio sales reflect the strong continuing interest that strategic buyers have in Latin America. Brazil and Mexico possess large economies with significant local markets, healthy consumer demand, and internationally competitive companies. Foreign investment flows and interest in well managed companies within these countries remain strong.'
The group's Mexico Private Equity Fund sold its investment in Absormex, a Mexican manufacturer of diapers and sanitary products, to an undisclosed local buyer. It said ‘the divestment was made at a premium to comparable market multiples, reflecting the strong position of the company in niches experiencing significant growth.'
The South America Private Equity Growth Fund made two sales. The first was Injepet Embalagens, one of Brazil's leading producers of PET packaging products. It was sold to the Australian packaging company Amcor Limited. The second was a portion of its investment in Mobitel, one of Brazil's largest operators of call centres, to Portugal Telecom.
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