The transaction is part of Columbia’s strategic decision to exit healthcare business in India and has mandated Morgan Stanley to run a formal process to find a buyer.
U Gro will use the funds to expand its businesses at a time when capital is scarce for the sector.
Sical Logistics is the offshore and multimodal logistics services firm owned by the Coffee Day Group.
Lower rates do not necessarily result in sustained economic growth and is not an effective way to stimulate economies or growth, says Schwarzman.
The issue will be first of it kind by an Indian state-run entity.
Blackstone, along with South-based developer Salarpuria Sattva will acquire the 90-acre, IT-focussed Global Village Tech Park held by subsidiary, Tanglin Retail Realty.
JK Tyre pre-paid the loan in two tranches of Rs 50 crore and Rs 150 crore.
Setting Sale The Coffee Day Group company’s iron ore container terminal in Ennore is valued at Rs 800 crore and Sical Logistics is looking to halve its debt with this deal.
The company has started monetizing assets to repay banks and private equity funds.
The management was apprehensive of any investor/lender legal action, which could delay the process of resolving the crisis.
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