India Resurgence Fund, a joint venture between Piramal Enterprises Ltd and Bain Capital Credit, on Monday said it has invested $156 million in the marine chemicals business of Chennai-based Archean Group. The investment proceeds will be used to repay debt, offer capital investment to optimize output across product lines, and provide working capital to grow market share in India and in major export markets such as Japan, China, Middle East and Europe. — Mint

Desai & Diwanji Mumbai advised Archean Chemical Industries Private Limited, Chennai led by a team of partner Jai Diwanji, partner Sonal Rangnekar, associate partner Smriti Mehta and associate partner Pushkar Bavare.

Cyril Amarchand Mangaldas advised India Resurgence Fund.

2018-09-29

Deal value: USD 156 million approx.

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