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
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.