Aegis Logistics in talks with BNP Paribas, HSBC, JPMorgan to raise $600 million for Tristar deal
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Aegis Logistics is in talks with BNP Paribas, HSBC, and JPMorgan to raise $600 million for its Tristar deal.
- ✓The company plans to use foreign-currency debt and an equity offering to fund the purchase.
- ✓Aegis agreed to acquire 90% of Tristar for $809 million, with completion expected by March next year.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Livemint
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Aegis Logistics Ltd. is in talks with banks including BNP Paribas SA, HSBC Holdings Plc and JPMorgan Chase & Co. about raising funds for its acquisition of Dubai-based Tristar Holdings Ltd., people familiar with the matter said.
The Indian logistics company is considering raising at least $300 million of foreign-currency debt, as well as around $250 million to $300 million through an equity offering known as a qualified institutional placement, according to the people, who asked not to be identified because the discussions are private.
Discussions with lenders are ongoing
The QIP may be launched in the coming months, the people said, adding that Aegis might also use some cash on its balance sheet for the purchase. The acquisition is expected to be completed by the end of March next year.
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