M&A

M&A

JM Financial ARC emerges as preferred bidder for Rs.971-Cr DLI debt

Economic Times   Distribution Logistics Infrastructure  

JM Financial ARC has emerged as the preferred bidder to acquire the Rs 971-Cr debt of Distribution Logistics Infrastructure . The transaction involves a cash bid of Rs 621-Cr, which represents a recovery of approximately 64% for the lenders. The consortium of lenders is led by Bank of Baroda, with additional creditors including Punjab National Bank, Union Bank of India, Bank of India, and State Bank of India. BoB Capital Markets served as the process advisor for the transaction.Founded in 1972, Distribution Logistics Infrastructure runs as a major multimodal integrated logistics service provider and a subsidiary of the infrastructure fund, Infrastructure India Plc. Following a failed attempt to settle the debt with the company’s promoters, lenders initiated the sale process.

Between Aug 2007 and Aug 2018, Distribution Logistics Infrastructure had attracted about $ 208 M from Guggenheim Partners, Infrastructure India PLC and Gateway Partners.