India Digest: Granules, Lemon Tree Hotels, Ameya Logistics in M&A news

Private equity firms Blackstone Group, KKR & Co, Apax Partners, Advent International and Bain Capital are in initial talks to acquire Granules India while RJ Corp Ltd has sold additional stake in Lemon Tree Hotels. Separately, PSA India Intermodal Pte. Ltd has acquired a 50 per cent stake in Ameya Logistics.

PE firms eye Granules India

Private equity firms Blackstone Group, KKR & Co, Apax Partners, Advent International and Bain Capital are in initial talks to acquire Granules India, The Economic Times reported.

The Chigurupati family holds 43 per cent stake in Granules, which is one of the largest contract research & manufacturing companies in the country. The founders are reported to be keen on a control premium, valuing the company at Rs 4,000 crore.

Kotak Mahindra Capital is managing the sale process.

RJ Corp sells Lemon Tree shares

Diversified group RJ Corp Ltd has sold 1.1 crore shares of Lemon Tree Hotels in an open market transaction, according to bulk deal data available with BSE.

The shares,  equating to 1.4 per cent stake in the company, were sold at an average price of Rs 60.01 apiece, valuing the deal at Rs 66.01 crore.

Meanwhile, WF Asian Reconnaissance Fund Ltd has bought 1 crore shares of Lemon Tree Hotels at a price of Rs 60 per scrip.

PSA India picks stake in Ameya Logistics

PSA India Intermodal Pte. Ltd, a unit of Singapore-based port operator PSA International Pte Ltd, has acquired a 50 per cent stake in Ameya Logistics Pvt. Ltd (ALPL) from CMA CGM SA, The Hindu BuisinessLine reported.

Ameya runs a container freight station (CFS) near Jawaharlal Nehru Port Trust. The company holds a 51 per cent stake in CMA CGM Logistics Park Dadri, and also 55 per cent stake in HoneyComb Logistics. The acquisition will help PSA India acquire Ameya’s stake in these two companies.

The deal is expected to be closed in the first quarter of 2020.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.