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Apollo Global buys 13.3% in Indian pipe and plate maker Welspun Corp
June 30, 2011 - 18:30 GMT
Location:
Mumbai
KEYWORDS:
India
,
Apollo Global
,
Welspun Corp
,
DRI
,
Plate
,
Pipes.
Apollo Global will buy 13.3% stake in Indian Plate and pipe maker Welspun Corp for $290 million, Welspun said. Funds affiliated to Apollo will be allotted to compulsorily convertible debentures for $175 million and non-voting global depository receipts for $115 million, it added.
Funds affiliated to Apollo will be allotted to compulsorily convertible debentures for $175 million and non-voting global depository receipts for $115 million, it added.
Apollo Global is a private equity investor, specialising in the metals and hydrocarbon sector.
“Welspun represents a leading global franchise that operates at the intersection of energy and metals – two of our core verticals – and we are very enthusiastic regarding the prospects of...
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Euromoney Institutional Investor PLC.
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