According to sources, Arch Pharmalabs promoters have bought back the shares from Mitsui due to disagreement on corporate debt restructuring (CDR) package. Mitsui was pretty uncomfortable with the functioning of the CDR package and fell some of the liabilities could fall on them and hence, decided to exit.
Arch Pharmalabs has seen the complete exit of one of its largest foreign investor, the Japanese trading firm Mitsui & Co, holding about 32.5 percent stake acquired for nearly Rs 430 crore in two tranches in 2010 and 2012.
According to sources, Arch Pharmalabs promoters have bought back the shares from Mitsui due to disagreement on corporate debt restructuring (CDR) package. Mitsui was pretty uncomfortable with the functioning of the CDR package and fell some of the liabilities could fall on them and hence, decided to exit.
Also Read: Sun-Ranbaxy deal pushes domestic H1, M&As jump 22%
The exit was done in an amicable manner but there was a disagreement. The Arch Pharmalabs has a debt burden of about Rs 2,300 crore and to manage that they are under the CDR's cell. The CDR has yet not been implemented. The implementation would start next month. However, some of the bankers feel that with the exit of the largest foreign investors, the CDR package will not be impacted.
The implementation would not be impacted, bankers alone have an exposure of about Rs 1,600 crore and ICICI Bank is the lead bank in the CDR process that would be implemented from next month onwards. The other investors include ICICI Ventures and Data Language that hold over 5 percent in Arch Pharmalabs.
Anda sedang membaca artikel tentang
Japanese firm Mitsui Co exits Arch Pharma
Dengan url
http://harmonisem.blogspot.com/2014/07/japanese-firm-mitsui-co-exits-arch.html?m=0
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Japanese firm Mitsui Co exits Arch Pharma
namun jangan lupa untuk meletakkan link
Japanese firm Mitsui Co exits Arch Pharma
sebagai sumbernya
0 komentar:
Posting Komentar