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September 09, 2010

Deal Alert: Paracor India exits PL Shipping & Logistics via strategic sale

Paracor India Investments, Mauritius has sold its stake in PL Shipping & Logistics via a strategic sale to Switzerland-based M+R Spedag Group. Paracor had a controlling stake in PL Shipping which it acquired in February 2005. All minority shareholders (except management) have exited along with Paracor via the all cash deal.

Chennai-based law firm King & Partridge advised the sellers, while Mumbai-based law firm Nishith Desai Associates advised M+R Spedag.