Mandate:  Tenger Financial Group  |  Date:  2012/13   |   Country:  Mongolia   |   Type:  M&A   |    Amount in USD: Not Disclosed   |    Clients:  Bamboo Finance, Triodos Investment Management

Sale of a combined 32% stake in Mongolia-based TenGer Financial Group (TFG) following a competitive auction process.  Purchasers were  a consortium of investors led by ORIX Corporation of Japan, which also included the International Finance Corporation (IFC) and MAK, both existing shareholders in TFG.  TFG is the owner of Xac Bank, Mongolia’s fourth largest in terms of assets, as well as a leasing company; it also has a licence to operate in China.

From the press release:

Ian Callaghan, Managing Director of Enclude’s Capital Advisory business, and previously head of the Microfinance team at Morgan Stanley, commented “This transaction created both healthy financial returns for our clients, who had invested patiently in TFG over a number of years, as well as bringing in a highly aligned and experienced strategic investor that can help TFG-Xac Bank grow in a sustainable manner in the future, whilst maintaining its original vision and mission to enhance financial inclusion for the citizens of Mongolia.”