India: Raymond buys out JV Partner; Seaways acquires IDFC stake; LiquidHub sale

While Raymond has bought out its joint venture partner in JK Ansell, while Seaways Shipping has acquired IDFC PE’s stake in the company. Also, Cognizant Technologies and Apax Parters are in talks to acquire LiquidHub.

Raymond buys out JV partner’s stake in JK Ansell

Raymond Ltd has bought out its joint venture partner Australia’s Ansell Ltd stake in KamaSutra condoms manufacturer JK Ansell for an undisclosed amount.

The company has acquired 100 per cent ownership of the sexual wellness and personal care business under the brand KamaSutra.

JK Investo Trade (India) Ltd, a unit of Raymond, owned half the stake in the JV while Ansell held the other half. With the transaction, JK Ansell becomes a wholly owned subsidiary of JK Investo Trade.

“With this acquisition, the combined FMCG business is expected to be Rs800 crore consumer value in FY18,” said Giriraj Bagri, president of FMCG business at Raymond in a statement.

JK Ansell has two businesses—sexual wellness and personal care, and surgical gloves. As part of the same deal, Raymond has sold the surgical gloves business back to Pacific Dunlop Holdings (Singapore) Pte Ltd, an Ansell group company.

With an eye on IPO Seaways Shipping buys out IDFC stake in co

The promoters of Seaways Shipping and Logistics Ltd have acquired the entire stake of 24 per cent that IDFC Private Equity (IDFC PE) held in the company.

The financial details of the transaction were not disclosed.

Last year Seaways Shipping had filed draft papers with the SEBI to float an initial public issue, which was to pave the way for an exit for IDFC Private Equity.

Based on the strong performance in 2016-17, and the encouraging results in 2017-18 so far, the company is planning to go public in 2018-19, P.V.K. Mohan, chairman and managing director of Seaways Group said.

Seaways has been consistently profitable. With the global freight rates making a marked recovery, and increased manufacturing activity in India, the company is excited about the exponential growth prospects of the Group, Mohan added.

Cognizant, Apax Partners in fray to acquire LiquidHub

Tech firm Cognizant Technology Solutions and private equity major Apax Partners are in the fray to acquire digital tech company LiquidHub in a deal that could be valued up to $600 million, said a report in The Economic Times.

According to the sources cited in the report, the indicative bids are in the range of $450 to $600 million. JP Morgan has been mandated to run the sale process, which has seen four potential suitors being shortlisted.

Accenture, Capgemini and EY were also among those interested in the deal.. Apax Partners could be pursuing the acquisition as a possible addition to one of its portfolio companies, Zenzar, said the report.

India’s oldest private equity investor ChrysCapital holds around 48% stake in the company.

Also Read:

India: Seaways Shipping files draft papers for listing, IDFC PE to exit

Raymond in talks with global PE funds to sell 20% stake

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.