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.
