India Digest: Samara buys HR firms; PE funds eye Heinz biz; Aurobindo nears Mallinckrodt deal; Shriram Transport, SCUF merger

A Heinz Ketchup bottle sits between a box of Kraft macaroni and cheese and a bottle of Kraft Original Barbecue Sauce on a grocery store shelf in New York City, New York, U.S. March 25, 2015. REUTERS/Brendan McDermid

Samara Capital, along with Goldman Sachs and Janchor Partners, has bought stakes in HR and staffing companies Innovsource and V5 Global Services while Blackstone and Carlyle have joined the race to buy the consumer food division of the Kraft Heinz Co. in India. In other updates, Aurobindo Pharma is in the final stages of negotiations to acquire Mallinckrodt’s specialty generics business in the US and Shriram Transport Finance Company and Shriram City Union Finance are in early stages of discussion for merger.

Samara Capital acquires HR firms

Private equity firm Samara Capital, along with Goldman Sachs and Janchor Partners, has bought stakes in HR and staffing companies Innovsource and V5 Global Services in deals said to be worth Rs 350 crore, reported The Economic Times. The three partners floated an investment platform called First Meridian for the acquisitions. The company will look to add both synergistic and non-synergistic firms to this mix. It is looking at many other acquisitions of firms in the mid- to late stages in the technology space in human resources, said the report quoting Samara managing director Manish Mehta.

Blackstone, Carlyle eye Heinz food div

Global private equity funds including Blackstone and Carlyle have joined the race to buy the consumer food division of Kraft Heinz Co. in India, reported ET.  Other domestic and international strategic firms vying for the purchase include Abbott, Emami, Wipro Consumer Care, Zydus Wellness and ITC. The deal could involve Kraft Heinz selling its entire consumer healthcare business in India, including top-selling brands such as Complan, Glucon-D, Nycil and Sampriti Ghee in a deal valued $1 billion, the report added. Kraft Heinz is controlled by Warren Buffett’s Berkshire Hathaway Inc. and private equity firm 3G Capital.

Aurobindo nears Mallinckrodt’s deal

Homegrown Aurobindo Pharma is in the final stages of negotiations to acquire Mallinckrodt’s specialty generics business in the US, including its portfolio of opioid-based painkillers, for $850-900 million, reported ET. The deal is expected to be announced later this month. Aurobindo had revived talks with Mallinckrodt for the proposed acquisition in March, after disengaging in September last year.  Mallinckrodt manufactures and distributes products used in diagnostic procedures and in the treatment of pain and related conditions.

Shriram Transport, SCUF look to merge

Non-banking financial firms Shriram Transport Finance Company and Shriram City Union Finance (SCUF) are in early stages of discussions for a merger with an aim to list the holding company Shriram Capital, reported PTI. While the merits of the proposed merger are being worked out, Shriram Capital may also look at solo listing. If things fall in place, the merger can happen in about 8-9 months, the report added. Shriram Transport Finance is in the vehicle financing space having over 1,213 branches and 930 rural centres across the country.

 

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.