Reuters: Mergers News: REFILE-CVCI fund invests in Thai skincare company

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REFILE-CVCI fund invests in Thai skincare company May 30th 2012, 04:29 HONG KONG | Wed May 30, 2012 12:15am EDT HONG KONG May 29 (Reuters) - Emerging markets fund CVCI Private Equity and a co-investor advised by Thai Strategic Capital have bought a significant minority stake in Thai skincare company Wuttisak Clinic Inter Group Co Ltd, a source familiar with the matter told Reuters. The consortium paid close to $100 million for around one third of Wuttisak, said source said, who was not authorised to talk to the media. Wuttisak has over 100 clinics in Thailand, and is expanding into Laos, Cambodia and Vietnam to tap into the rising disposable incomes of Southeast Asia's emerging middle classes. The company provides treatments such as skin whitening, anti-aging and acne removal. Emerging markets investor CVCI, which is part of Citigroup , has over $7 billion in equity investments and committed capital.

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