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Transactions
JANUARY 2013
SIntEX IndUStRIES Ltd $140M Bond ISSUancE
the Sintex group is one of the leading providers of plastics and niche textile-related products in India. With global footprints spanning nine countries, Sintex has a strong presence in the European, american, african, and asian markets including countries like France, Germany and USa.
Established in India in 1931, Sintex has a proven track record of pioneering innovative concepts in plastics and textile sectors in India and an uninterrupted 77 years of dividend payment to its shareholders.
The company’s constant commitment to growth is reflected in the annual report figures. Sintex’s market capitalisation is of US$ 1.2 billion as on March 2008 and over the last three years, the revenue CAGR is 51% with net profit CAGR of 61%.
AZB & Partners advised in respect of its issue of approximately US$140 million 7.5 percent foreign currency convertible bonds. Partner Varoon Chandra led the transaction. LM
PEGaSUS caPItaL BUYS SIX SEnSES RESoRtS & SPaS
Pegasus capital advisors L.P., a US-based private equity fund manager, through one or more of its affiliates, has acquired the Bangkok-based ultra-luxury resort and spa business of Six Senses Resorts & Spas for an undisclosed sum. Under the terms of the deal, Pegasus has acquired all of the Six Senses and Evason branded resort and spa management contracts and related intellectual property rights and will operate them under a new company managed by Pegasus and its affiliates.
Bernhard Bohnenberger, currently the president of Six Senses, will be continuing in that role and heading the Six Senses’ Bangkok office.
“Six Senses is known around the world for providing a unique and innovative guest experience," commented Craig Cogut, the founder of Pegasus Capital Advisors. “The brand has a great heritage, and we believe it is strongly positioned to grow. Going forward, the new Six Senses will be a debt-free company with committed capital for expansion into new and within existing international markets. We are confident that our president Bernhard Bohnenberger and our strong management team will continue to build on its legacy as a recognized leader in luxury hospitality."
Conyers advised on the laws of the British Virgin Islands, Mauritius and Cyprus in relation to the transaction. The Conyers' team was made up of Robert Briant, Anton Goldstein, Kristian Wilson and Patrick Ormond in the firm’s British Virgin Islands office, Sonia Xavier, Sameer Tegally and Ashvan Luckraz in the Mauritius office and Iakovos Panagi in the Moscow office. The transaction un- derscores Conyers’ strength and depth of experience in advising on complex multi-jurisdictional acquisitions. LM
Six Senses Resort & Spas
Sintex Inustrial Ltd