Carlyle Uses Mauritius SPAC for Yes Bank
The Indian government cleared the way for The Carlyle Group to acquire a 10% state in Yes Bank via a Mauritius based SPAC. Prime Minister Modi expressed India's goal to become a cashless society. Carlyle has experience in this area with its seven year ownership of the RushCard, an independent prepaid debit card.
Carlyle Buys Spanish Plywood Maker Garnica
The Carlyle Group announced it will buy premium plywood maker Garnica. The news release said it would partner with the Garnica family. The family may wish to contact the Brintons clan. They had significant issues with Carlyle's hostile takeover of their luxury carpet company. Carlyle dumped Brintons' pension plan with its £10.5m deficit when it bankrupted Brintons via a backdoor takeover.
Update 6-9-24: Carlyle sold some of its Yes Bank shares.