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Creador buys minority stake in 7-Eleven Malaysia

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Creador has acquired a 6.56% stake in 7-Eleven Malaysia Holdings, the country’s largest convenience store chain with more than 1,900 stores, for around MYR108.8 million ($25.3 million).

The private equity firm, which invests in Southeast Asia and India, bought 78.3 million shares, according to a regulatory filing, at a reported price of MYR1.39 apiece. 7-Eleven went public in mid-2014, pricing its shares at MYR1.38, and subsequent to Creador's investment the stock has soared to MYR1.58.

The company is controlled by Berjaya Group, a conglomerate owned by Malaysian billionaire Vincent Tan, which has interests spanning real estate, entertainment and food and beverage. The first 7-Eleven opened in Malaysia 30 years ago and the company claims to have a more than 80% share of the convenience store segment. The vast majority of its stores are directly owned.

7-Eleven posted revenue of MYR1.89 billion for the 2014 financial year, up from MYR1.67 billion for the previous 12 months. Net profit rose to MYR63.1 million from MYR44.1 million.

Creador invested through its second fund, which closed at $330 million in October 2014. The firm reached a first close of $250 million on Fund III last September. The vehicle has a full target of $450 million.

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