India Digest: K Raheja Corp, Fresenius in M&A; Blackstone closes Mphasis deal

K Raheja Corp is buying Standard Industries’ land while Germany-based Fresenius Medical Care (FMC) has acquired Sparsh Nephrocare. Also, Blackstone has closed the deal with 60.17 per cent stake purchase of Mphasis.

K Raheja Corp to buy Standard Industries’ land for $53m

Real estate developer K Rajeha Corp has agreed to buy Standard Industries’ 62.25 acre land in Navi Mumbai for Rs 355 crore ($52.9 million).

According to a stock market disclosure, Mafatlal Group’s firm Standard Industries, with interest in textiles, will transfer and assign its leasehold rights for the said leasehold property at Trans-Thane Creek Industrial Area in the villages of Ghansoli and Savali.

Germany’s Fresenius acquires Sparsh Nephrocare

Germany-based Fresenius Medical Care (FMC) has acquired India dialysis chain Sparsh Nephrocare for an undisclosed amount.

Run by Hyderabad-based Sandor Nephro Services Pvt Ltd, Sparsh Nephrocare is backed by Tata Capital Healthcare Fund.

“India is one of the largest dialysis markets in the world with most of the patients in tier II and tier III towns. Sparsh, with its differentiated business model, is the right platform for us to establish ourselves in the under-penetrated Indian market. Sparsh management team will form an integral part of FMC’s India dialysis services strategy,” said Punit Kohli, managing director, Fresenius Medical Care India.

Blackstone closes deal to buy stake in Mphasis with 60.17% stake

PE giant Blackstone‘s open offer to buy majority stake in IT firm Mphasis Ltd has failed and it has closed the deal with purchase of 60.17 per cent stake.

The PE firm had offered to buy a majority stake in the company from Hewlett Packard Enterprise (HPE) in April.

Blackstone managed to buy only 2,178 shares out of 54.9 million shares it had offered to buy.

Mphasis’ scrip last traded at Rs 559.80 each, down 0.59 per cent on BSE in a strong Mumbai market on Friday.

Also Read:

K Raheja Group looks to sell stake in unit for $500m
Blackstone part-exits NCC

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.