Transaction Reports SPIC

Southern Petrochemicals Industries Corporation (SPIC) on a high profile, complex debt restructuring deal

worth around US$ 1billion Legal advisors to SPIC:

SPIC Debt Restructuring

Petrochemicals Industries Corporation (SPIC), the Indian

chemicals and

pharmaceuticals company, has completed a debt restructuring deal worth approximately US$ 1billion, the first of its kind in India.

The pioneering deal includes all secured and non-secured creditors in a one-time settlement approved by both the Madras High Court and the Securities and Exchange Board of India. As part of the restructuring deal, promoters in SPIC and its group companies were permitted to increase their investment in SPIC and its group companies beyond the limits allowed under India’s 2011 Takeover Code,

itself a landmark document in India’s growing M&A and capital markets. The process also saw significant delisting and divestment of group assets and entities to make funds available for creditors.

SPIC engages in the manufacture and sale of nitrogenous and phosphatic fertilizers primarily in India. The company also has business interests in engineering, biotech, and pharmaceuticals. The company’s operating divisions include Fertilizer Division; Pharmaceuticals Division; Engineering/ Construction Services Division; and Agri-business Division.

TDX Group Investcorp exits TDX Group Financial advisor to TDX Group:

LHA FINANCIAL LIMITED Financial advisor to Investcorp:

Legal advisors to TDX Group: Investcorp exits TDX Group

Investcorp, a global provider and manager of alternative investment products, recently announced that, together with the founders of the TDX Group (TDX), it has agreed the sale of TDX to Equifax Inc., a global information solutions provider, for £200 million

(approximately US$327 million). TDX is the United Kingdom’s largest debt placement services and debt management platform company.

Through its technology fund, Investcorp Technology Partners III, Investcorp acquired a substantial minority stake in TDX in 2008, becoming the largest and only institutional shareholder alongside TDX’s three founders.

Legal advisor to Investcorp:

Founded in 2004 and headquartered in Nottingham, UK, TDX employs approximately 345 people globally. TDX provides businesses with technology, data and

advisory solutions to improve debt liquidation and the fair treatment of consumers in financial arrears. Gilbert Kamieniecky, Principal at Investcorp, said: “With our support, TDX has been able to realise its potential and has evolved from being a UK-focused operation to one with a growing international footprint. The fact that the company has attracted the interest of a strong trade buyer in Equifax is testament to the quality of solutions and services TDX offers to its clients in recovering delinquent debt.”

The transaction is Investcorp’s third successful exit of its technology portfolio in twelve months following its agreement to sell the Skrill Group, one of Europe’s largest online payment systems, to CVC Capital and the flotation of Fleetmatics, the Irish-based leading global provider of fleet management solutions for commercial fleet vehicles, on the New York Stock Exchange.

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