Deal Communique : May 20 – May 26, 2013 : Volume - 4

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sss PE l VC l M&A May 20 – May 26, 2013 l Volume - 4 Weekly Insight of Private Equity, Venture Capital, Merger & Acquisition

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Weekly Insight of Private Equity, Venture Capital, Merger & Acquisition

Transcript of Deal Communique : May 20 – May 26, 2013 : Volume - 4

Page 1: Deal Communique : May 20 – May 26, 2013 : Volume - 4

sss

PE l VC l M&A May 20 – May 26, 2013 l Volume - 4

Weekly Insight of Private Equity, Venture Capital, Merger & Acquisition

Page 2: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Qatar fund eyes $200m RMZ deal

Esha Media Research intends to invest Rs 450 cr in TV TRP biz

Venus Remedies plans to raise Funds

Everstone Capital raised $250 Mn Fund to build Industrial Warehouses.

Page 3: Deal Communique : May 20 – May 26, 2013 : Volume - 4

©2013 INDEL Advisors LLP. All right reserved

Deal Concise

Qatar fund eyes $200m RMZ deal

An affiliate of Qatar Investment Authority is holding discussions to invest about $200 mn in RMZ Corp, one of south India's largest commercial developers. The deal can be combination of equity and debt, split equally, into a SPV housing, the Bangalore based developer's commercial projects under development.

The discussions are routed through Qatar Investment Company, a part of the oil rich Middle East nation's sovereign wealth fund (SWF). Last month, Qatar invested $1.2 billion for a 5% stake in Bharti Airtel.

Last month, Qatar Investment Authority, SWF announced that it is looking to invest up to $10 bnin India every year. However, in the past five years the authority has invested only about $500 Mn in

India and that too in the stock markets, while it has invested more than $30 bn in Germany and over $6 bn in China. Outside Qatar, the authority has opened offices only in Paris, China and India.

This January, AIG Global Real Estate bought out RMZ Corp's 50% stake in their stalled JV mall project in Hyderabad. Last year, Baring PE invested $100 Mn in the company which was used to back RMZ Corp's acquisition of an office space project of 6 Mn Sqft in the technology hub of Bangalore. Baring held 26% stake in the SPV floated for this buyout, while the remaining stake was held by RMZ.

Announcement Date | 23 May 2013Industry | Real Estate

Page 4: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Esha Media Research intends to invest Rs 450 cr in TV TRP biz

India’s premier TV monitoring agency, EshaMedia Research intends to invest Rs 450 crin the next 4-5 years to foray into television TRP business, besides media monitoring in the print, internet and social media segments.

Esha Media Research has been formed from the merger of Esha News Monitoring (ENM) with Laser Dot, a Hyderabad-based company listed on the BSE. Laser Dot was renamed as Esha Media Research Limited after the reverse merger and has become the country's only media monitoring services firm listed on an exchange.The company plans to install 50,000 boxes in phase-I and increase them to 100,000 in the second phase.The company provides services in TV monitoring, transcription and TV content research. It recently launched an innovative

web-based solution for monitoring media, which it claims has brought down the cost of monitoring to the user.Target rating point (TRP) is an audience measurement criterion that gained popularity in television rating points to indicate the popularity of a television channel or program in a particular channel, among a specific target audience. The TRP measure helps advertisers decide which TV channels and programs to place their advertising. Television audience measurement or TRP service is currently monopolised by TAM Media Research, a joint-venture of Nielsen and Kantar Media.

Announcement Date | 22 May 2013Industry | Technology

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Page 5: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Venus Remedies plans to raise Funds

The Board of Venus Remedies has approved raising of funds by way of equity/convertible instruments upto $30 Mn, on a preferential basis.Venus Remedies is a pharmaceutical company specializing in manufacturing injections in high-growth therapeutic segments like anti-infective, oncology, cardiovascular and neurology.It has a presence in 60 countries and covering more than 75 products.

It is headquartered in Panchkula (India). It has two manufacturing units in India -Panchkula, Baddi and one in Werne (Germany).

As on the March 2013, the promoters and promoter group own 39.21% in pharmaceutical company.

Other shareholders include Rel Utility Engineers, Morgan Stanley, Merrill Lynch and Kotak India Focus Fund. Recently, Venus Remedies signed a deal with South Korean drug company GoodwillsCo. Ltd. for exclusive marketing of its antibiotic drug 'Elores'.

Announcement Date | 21 May 2013Industry | Healthcare

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Page 6: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Everstone Capital raised $250 Mn Fund to build Industrial Warehouses

Everstone Capital has raised over $250 mn from global investors to build industrial warehousing in the country. Everstone is developing a network of warehousing centers through IndoSpace Logistics Parks, a joint venture with US based Realterm Global, which manages industrial real estate assets worldwide.

IndoSpace is currently building 11 large-scale parks with 15 million sq ft under construction across five metros catering to global clients like L'Oreal, Volkswagen, Nissan and Levi's.

IndoSpace Logistics Parks through two funds has raised almost $500 mn till date. The latest fund, which has received another $100 mncommitment, will be capped at $350 mn.

The first fund of IndoSpace JV had raised $240 mn in 2009. Everstone Capital is a global PE firm with AUM of over $1.5 Bn and has two realty focused funds comprising of Horizon Realty Fund LLC, a $350 Mn fund closed in 2006 and with a goal to invest in retail-led real estate developments in Indian metro cities and the other being IndoSpace Logistics Parks.

Announcement Date | 20 May 2013Industry | Infrastructure

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Page 7: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Star Dental Plans To Raise Funds For Expansion

Rediff has sold stake in LBS co Adnear for $1.14 mn

Kae Capital Invests In CultureAlley.com

Sequoia leads $8M second funding round at energy drink maker Hector Beverages.

Page 8: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Star Dental plans to raise Funds for expansion

Star Dental plans to raise funds from individual and institutional investors to fund its expansion plans in India.

It has plans of investing R150 Cr over the next three years to open around 300 clinics across India by 2017.

It aims to launch 40 company- owned clinics across India over the next one year. The company aims to set up a pan India Network of dental clinics, through mix of organic and inorganic growth. As of now, its major focus is to have a strong network of clinics in North India, including NCR and Punjab in the next one year.

The company's Indian arm Star Dental Centre Pvt. Ltd., started operations in the country last year, has eleven dental clinics across Delhi National Capital Region (NCR) under the brand name 'Clove'. In February, the company also launched its dental laboratory, Clove Laboratory. It also mobile dental vans catering to unprivileged section of the society.

Announcement Date | 23 May 2013Industry | Healthcare

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Page 9: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Rediff has sold stake in LBS co Adnear for $1.14 mn

Rediff has sold its stake in Adnear (previously known as Imere), a location based company in which it had bought a minority stake in 2009, for $1.14 million, Rediff.com has disclosed. In November 2012, AdNear had raised Rs 35 crore(around $6.2 million at current levels) from Sequoia Capital India and Canaan Partners for expansion in to Asia-Pacific region and towards growing the team.

AdNear is a location-aware mobile technology platform that combines context & behavior to drive superior targeted advertising across mobile devices. AdNear is already helping major brands and advertisers reach local audience across Singapore, India, Australia, and other Southeast Asian countries.

Adnear's advertising platform is built on hybrid geo-location platform which helps provide location awareness on phones without the need of GPS or operator assistance. AdNearservices are currently used by major brands and advertisers including Toyota, Titan, Ford, PizzaHut, Samsung, Nokia and Airtel.

Announcement Date | 23 May 2013Industry | Technology

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Page 10: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Kae Capital invests in CultureAlley.com

Kae Capital has invested an undisclosed amount in Jaipur-based Intap Labs Private Limited for a minority stake.The company plans to use the raised funds for product development.

Launched in November 2012 by Nishant Patni, Intap Labs runs a language-learning platform CultureAlley.com. The platform enables interactive language learning through self-paced audio-visual lessons and can help one learn any language including English, Spanish, Mandarin, Hindi, Japanese, Italian, French and Korean. The website claims to have over 100,000 users across 210 nations.

The website offers a one-on-one interaction with professional and trained coaches. It also offers

five free self-study modules but one can take advanced lessons for a fee.Last month, Kae Capital along with Mumbai Angels and Blume Ventures invested undisclosed amount in ShephertzTechnologies, cloud-based platform for app developers.Since it closed its maiden fund in February 2012, Kae Capital has invested in 20 firms, investing one-third of its corpus.

Announcement Date | 22 May 2013Industry | Learning

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Page 11: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Sequoia leads $8M second funding round at energy drink maker Hector Beverages

Gurgaon-based Hector Beverages Private Limited has raised $8 million in its second round of funding. The investment was led by Sequoia Capital of $5Mn., with remaining investment from existing investors Infosys co-founder Narayan Murthy's fund Catamaran Ventures and Footprint Ventures. In 2011, Catamaran Venture Fund, FootPrint Ventures and four angel investors, has invested a total of Rs.6 Cr.

Hector Beverages was formed in 2009 by three former Coca-Cola India executives, Kakkar, SuhasMisra and Neeraj Biyani, and former Dow Chemicals employee James Nutall.

The company sells energy drink under the brand name 'Tzinga' and protein drink 'Frissia'. Earlier this year, it launched traditional Indian functional beverage brand, Paper Boat.

Hector is test marketing the brand in 6% of the 50,000 outlets that Tzinga is distributed in and plans to take it national later this year.The new funding will give Hector the firepower needed to make Tzinga the definitive energy drink throughout India, as well as to penetrate other parts of the functional beverages space.

The company is planning to increase Tzinga in the country's top 30 cities. It has a manufacturing facility at Manesar, near Gurgaon, and will soon start another one close to Bangalore.

Announcement Date |20 May 2013Industry | Agro/Food & Beverage

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Page 12: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Gaursons acquires land from Jaypee for Rs 1,500 cr in Gr. Noida for Township Project

NCC to divest its stake in Power Project

Mentor Graphics acquires software products business of SoftJin

Dentsu India acquires 80% stake in Netwoek18’s Webchutney

Jai Corp plans exit from Navi Mumbai SEZ

Japan's Mitsubishi-Hitachi Metals acquires casting machinery maker Concast India

Page 13: Deal Communique : May 20 – May 26, 2013 : Volume - 4

JSW acquires Cement Grinding unit fromHeidelberg Cement

Thomas Cook plans to divest its Real Estate Assets

United Spirits plans 10% Preferential Allotment to Diageo

IL&FS Plans acquisitions to expand its Capital Market Services

Coromandel International acquires Liberty Urvarak

Kingfa Sci & Tech. to acquire Hydro S&S Industries

Page 14: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Gaursons acquires land from Jaypee for Rs 1,500 cr in Greater Noida for Township Project

Gaursons India has acquired 300 acre land from Jaypee Group located at Yamuna Expressway in Greater Noida for around R1500 Cr to develop integrated township, ET states.

Gaursons plans to construct about 15,000 apartments in affordable segment and launch the township by end of this year. It has fund the acquisition through bank loans and internal accruals.

The township would have flats, plots, school, hospitals and other infrastructure facilities and would be in the vicinity of Jaypee group's F1 Track.Founded in 1995, Gaursons is engaged in providing world class infrastructure facilities based housing n the Ghaziabad, Noida and Greater Noida region.

Last month, it announced its plans to jointly developing a 240-acre township in the NoidaExtension with Saviour Builders with an investment of R5000 Cr. It plans to give possession of about 2,500 flats in 2014. The entire township will be completed in the next five years.

Jaypee Group has about 4,000 acre land alongside Yamuna Expressway, which was built by them only.

Announcement Date | 24 May 2013Industry | Real Estate

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Page 15: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

NCC To Divest Its stake in Power Project

Infrastructure and construction company, NCC is in final talks with an overseas investor for a stake sale in its 1,320-MW power plant which it is executing in Krishnapatnam through a JV, BL states.

Its believed that the investor is from Singapore.At the same time, it is on course to reducing its corporate debt of R3,900 Cr by about 50% during the current financial year. For which the company plans to go through a phase of consolidation, divestment of stake in two road assets, for which negotiations are under way.

Potential deal by NCC Ltd is 51% stake sale in 78-km toll road in Uttar Pradesh to Morgan Stanley's infrastructure fund.

NCC has total debt of R3,900 Cr as of the financial year end and intends to bring it down to about R2,000 Cr before the end of the current financial year.

In November 2011, NCC achieved financial closure by for it R7,000 Cr, 1,320-MW JV thermal power project with Gayatri Projects at Krishnapatnam in Andhra Pradesh.

Announcement Date | 24 May 2013Industry | Infrastructure

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Page 16: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Mentor Graphics acquires software products business of SoftJin

Mentor Graphics Corporation, a US-based technology firm, has acquired the photomask and lithography related software products business of Bangalore-based SoftJin Technologies Pvt Ltd for an undisclosed amount.The acquisition includes all Softjin’s Post Layout Electronic Design Automation (EDA) software products including Nirmaan Software Development Toolkit, NxDAT Defect Analysis Tool and NxMDP Mask Data Preperation Tool Suite.

Mentor Graphics deals in electronic hardware and software design solutions, providing products and consulting services. Established in 1981, it reported revenues of about $1,090 million in the last fiscal year.

Established in 2000, SoftJin is an Indian technology company that provides customised

software and design solutions, enabling semiconductor design and manufacturing. It offers customised EDA, software development solutions using a combination of EDA building blocks and custom software services. Its business model comprises a mix of high-end R&D services and differentiated software products.Mentor Graphics has been active in acquiring technologies to grow. Last year, it acquired Flowmaster Group, a global leader in 1D computational fluid dynamics (CFD) simulation software for system design

Announcement Date | 24 May 2013Industry | Technology

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Page 17: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Dentsu India acquires 80% stake in Netwoek18’s Webchutney

Capital18, the venture capital arm of Network18 has entered into an agreement with Dentsu India Group to divest its stake in Webchutney – a digital ad and consulting agency.Capital18 was a majority shareholder of

Webchutney and the investment has generated a return of over 300%. Bryan, Garnier & Co. acted as the sole advisor to Capital18 and other selling shareholders. Network18 holds a total of 70% stake in the company through its financial arms Capital18 and Capital18 Fincap. It had invested an undisclosed amount in 2007.

Webchutney is an ad agency catering to big name clients like Airtel, Microsoft, Unilever, Barclays and P&G to name a few. It is supported by a team of 200 marketing professionals across New Delhi, Mumbai and Bangalore.

Post acquisition, it will become part of the Dentsu India Group of companies which operate under the umbrella of Dentsu Aegis Network Ltd., the Dentsu Group's global operating unit headquartered in London which oversees all of Dentsu's business operations outside of Japan.

Dentsu is a Japanese ad powerhouse which bought out British media-buying firm Aegis Group for $4.9 Bn, in a deal which was touted to be an overpriced one. It competes with major players like Dublin based WPP, American firm Omnicom Group and French giant PublicisGroupe.

Announcement Date | 23 May 2013Industry | Media

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Page 18: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Jai Corp Plans Exit From Navi Mumbai Special Economic Zone (NMSEZ)

Jai Corp, owned by Mukesh Ambani and AnandJain is planning to sell part of its stake in the NaviMumbai special economic zone which has failed to take off due to land acquisition problems and lack of clients from abroad, BS stated.

Reliance Industries chairman Mukesh Ambaniand Anand Jain, co-promoters of NMSEZ, planned to denotify the 2,140-hectares SEZ land and develop the same as an IT park and an integrated township which would include residential complexes, shopping malls, multiplexes, hotels, schools, colleges and hospitals.

About 74% of NMSEZ is owned by DronagiriInfrastructure Pvt Ltd (DIPL), a company owned by RIL chairman Mukesh Ambani and Anand Jain of Jai Corp and Sea King Infrastructure Ltd (SKIL), while the rest 26% is owned by CIDCO.

The Navi Mumbai project was a non-starter like many SEZs in India, due to the government's dallying over the SEZ policy and land acquisition. Besides, as the land acquired by the company was scattered across NaviMumbai, it was difficult for the company to get SEZ benefits for the project.

Investors of Jai Corp’s two realty funds & mdash; Urban Infrastructure Opportunities Fund and Urban Infrastructure Real Estate Fund are irked over Low returns. The funds have invested in a slew of real estate projects across India over the past six years.

Announcement Date | 23 May 2013Industry | Real Estate

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Page 19: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Japan's Mitsubishi-Hitachi Metals acquires casting machinery maker Concast India

Japan’s Mitsubishi-Hitachi Metals Machinery Inc. has acquired casting machinery maker, ConcastIndia Limited to expand its business in India for an undisclosed amount.Through this deal Mitsubishi plans to increase sales and accelerate global business expansion, thereby aiming at being among the top supplier for metals machinery in the world.

With this deal Mitsubishi has also acquired Concast’s casting technologies which they did not have before and would getter a better access in Middle East, Africa markets where Concast is well established.

Supplier of continuous casting machines, CIL was established in 1973 by Mr Narinder Nayar and has his headquarter and engineering centre located in

Mumbai. CIL has a large market share inside India for billets and rounds and is currently exporting to over 30 countries, including many rising nations in the Middle East, Africa, South East Asia.

Mitsubishi-Hitachi Metals Machinery was the outcome from a fusion of technologies, with the strength of Mitsubishi Heavy Industries in hot rolling added to Hitachi’s prowess in cold rolling. It provides hot rolling mills, cold rolling equipments and processing lines for over 2200 plants.

Announcement Date | 22 May 2013Industry | Engineering

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Page 20: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

JSW Acquires Cement Grinding unit from Heidelberg Cement

JSW Ispat is acquiring cement grinding facility of Heidelberg Cement India Limited located at Raigad, Maharashtra, adjacent to the company's steel plant. The acquisition will enable JSW IspatSteel to develop a stable outlet for the evacuation of slag, a waste generated during the smelting and refining of ore, and create additional grinding facility for its consumption and disposal, mint stated. The cement grinding facility has an installed capacity of 0.60 MTPA.

Heidelberg Cement India is a subsidiary of German multinational Heidelberg Cement, one of the largest building materials makers in the world. It operates two integrated cement units and two grinding plants in central, western and southern India.

Earlier this year, it had completed the expansion of its clinker and cement grinding plants in central India. Following the expansion, Heidelberg’s annual capacity in the country rose from 3.1 to 6 million tonnes.JSW Cement Limited, promoted in March 2006 by the JSW group, was established with a view to utilize the slag generated at the integrated steel plant of JSW Steel at Vijaynagar for production of cement.

Announcement Date | 22 May 2013Industry | Basic Industries

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Page 21: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Thomas Cook plans to divest its Real Estate Assets

Thomas Cook India Limited (TCIL) is looking to sell its land assets across India to meet its working capital requirements. This move is part of its strategy, which include consolidation of work places.The company has appointed Jones Lang LaSalle, a real estate services firm to help with the monitisation of its land assets. Thomas Cook owns 32 properties aggregating upto 1,26,000 sq ft all over India. It presently operates in over 101 cities across over 253 locations (including 27 airport counters). The company has overseas operations in Sri Lanka which is a branch of TCIL and Mauritius which is a subsidiary of Thomas Cook (India).Recently, Thomas Cook raised R184 Cr by selling 12% promoter stake to comply with market regulator SEBI's public shareholding norms.

The IPP was oversubscribed by 22% and received bids for R224 Cr, against the issue size of R184 Cr. The shares were bought by various domestic and foreign investors, including Prudential Life Insurance Co, Citigroup Global Markets, Morgan Stanley, India Capital Fund and others.The equity infused via this IPP is planned to be utilised to complete the earlier announced acquisition of a 74% stake in IKYA Human Capital Solutions. In May 2012, Canada based property and casualty insurer - Fairfax Financial Holdings acquired Thomas Cook Group Plc's 77% stake in its India operations for about $150Mn through it's unit, Fairbridge Capital.

Announcement Date | 21 May 2013Industry |Retail/Leisure/Travel/Textile

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Page 22: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

United Spirits plans 10% Preferential Allotment to Diageo

Vijay Mallya is planning to make a 10% preferential allotment in United Spirits to Diageo for R2,094 Cr.This move has been arranged because Diageo could acquire 0.44% of the intended 26% of equity in the recent open offer. Diageo had offered to buy shares at a price of R1,440 per share aggregating to R5,441 Cr. The open offer began on April 10 and closed on April 26. The manager to the offer was J M Financial.Of 3.8 Cr shares of United Spirits that were on offer, shareholders tendered just 64,169 shares and only 58,688 were accepted.Diageo decision on acquiring further 17.4% stake for R3632 Cr will be based on the judgment passed by Karnatka High Court after hearing winding-up petitions on UB Holdings, the parent company of Mallya's group, filed by unsecured

creditors of his dormant Kingfisher Airlines.As part of the multi-pronged R11,165 Cr agreement between Diageo and Mallya in early November 2012, the former was to get 12.8% stake from UBH’s holdings in USL and another 6.5% by buying treasury shares in USL.In order to seek HC approval, UBH declared that once it sells its shares to Diageo, it would furnish a deposit of R100 Cr and that it would be able to clear the dues towards the unsecured creditorsAs soon as Diageo gets 27.4% stake in USL, the latter’s board has agreed to vote in favour of the former’s decisions.

Announcement Date | 21 May 2013Industry | Agro/Food & Beverage

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Page 23: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

IL&FS Plans acquisitions to expand its Capital Market Services

IL&FS plans to acquire merchant banking and broking outfits to expand its capital market services, especially to infrastructure sector companies, BS states.

IL&FS had exited this space in 2008 by selling 73.21% stake in IL&FS Investsmart Ltd to HSBC for about $241.6 Mn. The non-compete period after the pact with HSBC has come to an end, making the road clear for it to enter the broking space again.IL&FS is also ready to collaborate with international financial groups and expand its presence in this space. It is not only considering to expand its space in domestic market but also in foreign markets. The group already has one merchant banking outfit - IL&FS Capital Advisors Limited, which was granted registration certificate by the SEBI on June 1, 2012.

IL&FS Capital, 100% subsidiary of IL&FS Financial Service Limited, has the mandate to provide a full spectrum of equity capital markets services, using an industry-focused and knowledge-driven approach. The aim is become an integrated financial services hub by leveraging the corporate, institutional and banking relationships across the group. IL&FS Financial Serviceshas its presence in London, Singapore, Hong Kong and Dubai.

Announcement Date | 21 May 2013Industry | Banking/Financials Services

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Page 24: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Coromandel International acquires Liberty Urvarak

Coromandel International has fully acquired Liberty Urvarak by buying 14.89% in the company and with this it has become its wholly-owned subsidiary. The buy would help Coromandel add to its capacity as Liberty, being one of the largest manufacturers of Single Super Phosphate fertilizer, having a capacity of more than 8 lakh MTPA and a strong marketing network across 14 states in the country.

This year in January, Coromandel International signed a definitive agreement to buy a controlling stake in fertiliser maker Liberty Phosphate Ltd and two of its affiliates - Liberty Urvarak Ltd and Tungabhadra Fertilizers & Chemicals Co for up to R375 Cr.

Incorporated in 1983, Liberty Urvarak is engaged in the manufacturing of SSP - a straight phosphatic multi-nutrient fertilizer. It has a capacity of 100,000 Metric MTPA of SSP fertilizer and 50,000 MTPA of Granulated SSP (GSSP) fertilizer as on March 1, 2012.The flagship company of the group, Liberty Phosphates has four manufacturing units located at Vadodara, Udaipur, Kota and Pali with total capacity of 660,000 MTPA of SSP and 5,400 MTPA of magnesium sulphate as on March 1, 2012.

Announcement Date | 21 May 2013Industry | Agro/Food & Beverage

©2013 INDEL Advisors LLP. All right reserved

Page 25: Deal Communique : May 20 – May 26, 2013 : Volume - 4

Deal Concise

Kingfa Sci & Tech. to acquire Hydro S&S Industries

Kingfa Sci & Tech, a Shangai Stock Echange listed plastic manufacturer is set to acquire controlling stake in Hydro S&S Industries- engineering plastics compounds producer in Chennai, ET states.

Kingfa Sci is close to buy 66.5% stake held by promoters of Hydro S&S for around R100 Cr. The acquisition will help Kingfa Sci to establish a direct connect with original equipment manufacturers whose clients include automobile majors including Maruti and Hyundai.

Kingfa Sci has filed for open offer to acquire 16,65,874 equity Shares from public shareholders of Hydro S & S Industries constituting 26% of the fully paid up equity share capital of the company at the offer price of R 42.70 per share, aggregating to R7.11 Cr. Singhi Advisors were the sole financial and strategic advisors for this transaction.

Promoted by Murali Venkatraman, Hydro S & S Industries is a manufacturer and supplier of high quality Reinforced Polypropylene Compounds, Thermoplastics Elastomers and Fibre Re-Inforced composites. It one of the largest suppliers of plastic compounds for dash boards and bumpers for Hyundai’s original equipment manufacturers. It has a capacity to produce 30,000 tpa of plastic compounds.

Kingfa Science & Technology Company Limited engages in the research, development, production, and sale of plastic products in China..

Announcement Date | 21 May 2013Industry | Basic Industries

©2013 INDEL Advisors LLP. All right reserved

Page 26: Deal Communique : May 20 – May 26, 2013 : Volume - 4

This document captures the list of deals announced based on information available in the public domain and public announcements and istherefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professionaljudgment. Neither INDEL Advisors LLP nor any other member of the INDEL global can accept any responsibility for loss occasioned to anyperson acting or refraining from action as a result of any material in this report. On any specific matter reference should be made to theappropriate advisor.

For more details on this please contact:E: [email protected] on to: www.indelglobal.com

INDEL Advisors LLPINDEL Advisors LLP is a global business advisory and consulting firm led by experienced professionals withentrepreneurial skills dedicated to serve middle-market companies. With the unique depth of thought combined withthe global expertise of leading professionals, INDEL is committed to protect and enhance the enterprise value of itsclients. Founded in 2009, the firm is headquartered in New Delhi and has offices located in major financial centers.