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Investments

2

Portfolio Exits

2

About Rainbow Trading Corporation

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Latest Rainbow Trading Corporation News

Activists expose timber from illegal loggers headed Europe markets

Nov 6, 2014

Zoom Picture Rotterdam.-  A cargo ship carrying Amazon timber, purchased from a sawmill known for trading illegal wood, was today confronted by Greenpeace Netherlands activists as it approached Rotterdam. The timber onboard is destined for the Belgian companies Lemahieu and Omniplex and was sourced from the Brazilian sawmill and exporter Rainbow Trading by the Belgian timber company Leary Forest Products. Rainbow Trading is one of the subjects of a recent investigation by Greenpeace Brazil on the processing and trading of illegal timber in the Amazon. Activists displayed a banner that reads “Amazon Forest Crime” and demanded an end to the destruction of the Amazon. Greenpeace is calling on EU authorities to enforce the law against illegal timber in Europe (EUTR) by seizing the timber before it is allowed to enter the market unchecked. “Official documentation used by loggers in the Amazon is not worth the paper it is written on. These documents are being used to launder illegal timber from Brazil. Buying from companies like Rainbow Trading is risky business. Their timber must be seized, not sold.” said Daniela Montalto, Senior Forests Campaigner, Greenpeace International. The recent investigation by Greenpeace Brazil Night Terrors, exposed a network of sawmills in the heart of the Amazon that were trading illegal timber, through GPS tracking devices and night time surveillance. The investigation documented forest management plans in Brazil that claimed to supply logs entering one sawmill, that were actually being used to launder timber illegally logged elsewhere. Following the investigation, Odani - a sawmill supplying logs to Rainbow Trading - was raided by authorities in Brazil. Their timber was seized after it was shown their paperwork was used to launder illegal timber. Laundering timber through the use of official documentation is a widespread practice within the Brazilian Amazon timber sector. Under EU law, companies are prohibited from placing illegally harvested timber on the EU market, and they are required to exercise due diligence to ensure that their timber is not illegal.Since Rainbow Trading was exposed, several shipments have been delivered to Europe. Some of these were destined to the same timber buyers, all of which had been previously warned of the high risk of buying illegal timber when purchased from Rainbow Trading. While companies in Belgium continue to buy timber from Rainbow Trading, others in Holland and Sweden have recently announced they would no longer purchase from them.Greenpeace is calling on authorities in Europe to seize the suspicious timber from Rainbow Trading and penalize companies that are not complying with the requirements of the EUTR. Share / Recommend this article:

Rainbow Trading Corporation Investments

2 Investments

Rainbow Trading Corporation has made 2 investments. Their latest investment was in Salix Pharmaceuticals as part of their PIPE on November 11, 2000.

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Rainbow Trading Corporation Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/13/2000

PIPE

Salix Pharmaceuticals

$14.1M

Yes

7/16/1998

Series C

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$99M

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0

Date

11/13/2000

7/16/1998

Round

PIPE

Series C

Company

Salix Pharmaceuticals

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Amount

$14.1M

$99M

New?

Yes

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Co-Investors

Sources

0

Rainbow Trading Corporation Portfolio Exits

2 Portfolio Exits

Rainbow Trading Corporation has 2 portfolio exits. Their latest portfolio exit was Salix Pharmaceuticals on April 01, 2015.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/1/2015

Acq - P2P

$99M

1

6/22/2001

Acquired

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$99M

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0

Date

4/1/2015

6/22/2001

Exit

Acq - P2P

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

1

0

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