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22 Deals in Brief: Cafe Coffee Day, Antwerp Ports, Brooks Brothers, Origio, Dionex, Louis Dreyfus, Warburg Pincus, Festo Controls…

Fortnightly packFortnightly pack

This fortnight’s deals package conspicuously features international investors, not only in terms of cross-border M&As and investments but also on the litigation side.

Capital markets

Financial services Non Banking Financial Company L&T Finance made a public off-market debenture buyback offer in which it will buy back up to Rs 50 crores ($9m) of debentures every quarter, for one year, opening buyback for the first 10 days of every month

L&T Finance: Alliance Legal partner Vishnu Jerome and senior associate Shameek Ray

 

The international investing arm of Belgium’s Antwerp Port Authority – Port of Antwerp International subscribed to Rs 175 crores of global depository receipts issued by leading Indian private sector port company Essar Ports

Port of Antwerp International: AZB & Partners partners Ashwin Ramanathan and Varoon Chandra with associate Rinki Ganguli

Essar Ports: Amarchand Mangaldas partner Amita Choudhary

 

Financial services company Birla Sunlife’s asset management wing subscribed to Rs 106 crore ($19m) of non-convertible debentures in leading Asian coffee chain Cafe Coffee Day Group’s Coffee Day Resorts

Birla Sunlife Asset Management: Khaitan & Co partner Ganesh Prasad

Coffee Day Resorts: Wadia Ghandy

 

 

Consumer electronics conglomerate Videocon Industries issued Rs 280 crores ($51m) of global depository receipts on private placement basis

Videocon Industries: AZB & Partners partners Kalpana Merchant and Varoon Chandra

 

M&A and joint ventures

US clothing chain Brooks Brothers Group (BBG) bought 51 per cent stake in its new joint venture with Reliance Industries’ fashion retail unit Reliance Brands (RBL)

BBG: Fox Mandal partner Sudish Sharma with senior associate Sonia Abrol and associate Devesh Pandey, and the New York office of international law firm Winston & Strawn LLP

RBL: In-house

 

Business process outsourcing major Genpact bought rural banking technology service provider Atyati Technologies

Genpact: AZB & Partners partner Vinati Kastia with senior associates Satyajit Gupta and Bharat Bahadur

Atyati Technologies: Nishith Desai Associates partner Vaibhav Parikh with senior associate Sangeeta Rana and associates Parag Srivastava, Shreya Rao and Basava Rao

 

Leading Indian spirits producer United Spirits bought Hyderabad-based liquor manufacturer Sovereign Distilleries for Rs 60 crore ($10.7m)

United Spirits: Kanga & Co partner Preeti Mehta with associate Rishi Sharma

Sovereign Distilleries: In-house

 

Reliance Group’s private equity advisory arm Reliance Equity Advisors bought stake for Rs 100 crore ($18m) in public listed kitchenware manufacturer Butterfly Gandhimathi Appliances

Reliance Equity Advisors: Khaitan & Co partner Haigreve Khaitan

Butterfly Gandhimathi Applicances: Fox Mandal partner Jeevanandham Rajagopal with senior associate Madhri Guruswamy

 

Denmark-based reproductive technology solutions provider Origio bought 51 per cent stake for Rs 23 crore (3.3m euros) in its new joint venture with Indian infertility treatment company Trivector Scientific

Origio: Kochhar & Co partner Rajarshi Chakrabarti with associates Alpana Srivastava and Reetika Gupta, and Danish law firm Plesner

Trivector: Acuity Law proprietor Souvik Ganguly

 

US magazines distributor Source Interlink Media bought majority stake in Indian auto-dealerships e-marketer Carazoo Online Solutions, from Chennai-based software developer Logix Microsystems

Source Interlink Media: Titus & Co and International law firm Honigman Miller Schwartz & Cohn LLP

Logix Microsystems: Khaitan & Co partner Rajiv Khaitan

 

Global business data provider Thomson Reuters sold it’s healthcare business to US private equity firm Veritas Capital for Rs 6974 crore ($1.25bn)

Thomson Reuters: Khaitan & Co partner Rabindra Jhunjhunwala and international law firm Covington & Burling partner JD Weinberg

Veritas Capital: International law firm Sullivan & Cromwell partner Scott Miller

 

 

US chemical technologies company Dionex Corporation acquired Dionex India after buying remaining 49 per cent stake for Rs 20.25 crores in the Indian arm

Dionex: Crawford Bayley partner Sanjay Buch with associate partner Preety Singh

 

French conglomerate Louis Dreyfus acquired Karnataka-based coffee curing and processing mill

Louis Dreyfus: Hemant Sahai Associates (HSA) partner Aparajit Bhattacharya with partner designate Harsh Arora and senior associate Pratap Grewal

Coffee Mill: In-house

 

Mauritiun logistics service provider GS Logistics bought equity for Rs 26.4 crores in Indian supply chain solutions provider TVS Logistics

GS Logistics: AZB & Partners partner Gautam Saha

 

Government of Singapore Investment Corporation’s affiliate Indivest Pte bought 3.75 per cent equity for Rs 375 crore in Indian beauty and wellness products retailer Marico

Indivest Pte: AZB & Partners partner Vineetha MG

Marico: In-house

 

Leading global communications group Publicis Groupe bought Indian website developer Indigo consulting.

Publicis Groupe: Trilegal partners Sridhar Gorthi and Ashwyn Misra with associates Shamin Shah, Sidhharth Saxena, Ramanuj Mukherjee and Anindita Mitra

Indigo Consulting: Alliance Legal partner Vishnu Jerome and senior associate Shameek Ray

 

Private equity and venture capital

Global private equity firm Warburg Pincus bought 53.67 per cent stake in BSE-and-NSE-listed financial services provider Futura Capital Holdings from fashion retailer Pantaloon Retial India

Warburg Pincus: AZB & Partners partner Essaji Vahanvati

Futura Capital Holdings: Economic Laws Practice senior consultant PR Ramesh with consultant Yogesh Chande

Pantaloon Retail India: J Sagar Associates (JSA) partner Nitin Potdar and Rinku Bhiwandkar with senior associates Ongmu Tshering and Puneet Shah

 

A German Fund which is a leading global insurance services group, funded Gujarat government’s solar power projects

German Fund: Hemant Sahai Associates (HSA) partner Aparajit Bhattacharya with partner designate Harvinder Singh and senior associate Sumedha Dutta

Solar power projects: In-house

 

Asian Development Bank and Himachal Pradesh Power Corporation funded Himachal Pradesh state hydro power projects Kashang HEP and Sawra Kuddu

Asian Development Bank: Hemant Sahai Associates (HSA) partner Aparajit Bhattacharya

Himachal Pradesh Power Corporation: In-house

 

German Development Bank KfW funded $2bn in Indian industrial conglomerate Reliance Industries’ petrochemical project in India

German Development Bank: Juriscorp partner Veena Sivaramakrishnan and international law firm Milbank’s London partner John Dewar and Frankfurt of counsel Anthony Morton

Reliance Industries: In-house

 

Litigation

German industrial trainer Festo Controls won an interim stay in the Bombay High Court against Directorate of Technical Education, Maharashtra restraining it from proceeding with the tender process for setting up an automation technical centre, during the pendency of Festo’s writ

Festo Controls: MDP & Partners managing partner Nishit Dhruva

 

Music company Saregama India and television channel network Viacom Media won in the Delhi high court against leading Indian film and entertainment content house Shemaroo entertainment, which had brought an injunction suit against the two for copyright infringement

Saregama India: Khaitan & Co partner Ajay Bhargava

Viacom Media: Economic Laws Practice partner Tarun Gulati with associate partner Madhur Baya

Shemaroo Entertainment: Agarwal Law Associates

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Like +0 Object -0 Anon 05 Jun 12, 20:38
Acquisition of Coffee Mills is worth reporting?? Seriously!!
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Like +0 Object -0 #ShadowWarrior 12 Jun 12, 17:08
pray why not ? is it too cheap for your taste ? (no puns Sir..)
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Like +0 Object -0 observer 06 Jun 12, 15:09
Khaitan and AZB seem to be very active in the market. Amarchand and Luthra are surprisingly getting far fewer mentions than what would be expected.

whats happening with JSA? do they not report?
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