Mumbai – CFI India acted as the exclusive corporate finance advisor to Marathwada Refractories Limited on the sale of a majority stake in their shares to Calvera Capital PTE. Limited, Singapore (the Acquirer) and LT Investment Limited, Hongkong (Persons acting in concert – “PAC”).
Calvera Capital PTE. Limited, Singapore is a wholly owned subsidiary of Strategic Global Group Inc., USA.
LT Investment Limited, Hongkong is a wholly owned subsidiary of LT Commercial Real Estate Limited which is listed on the Hongkong stock exchange and belongs to China Lerthai Commercial Real Estate Group.
Marathwada Refractories Limited is involved in the manufacture and trade of various Magnesite bricks and Magnesite ramming mass. Marathwada Refractories Limited was incorporated in 1979 and is based in Bengaluru, India.
CFI India was instrumental in handling the controlling equity stake purchase process and acted as managers to the open offer as per SEBI regulations undertaken by the Buyers.
The transaction closed on 21 November 2017.
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