“HNG ropes in new investor to pare debt: Debt-ridden Hindusthan National Glass & Industries (HNG), the country’s largest container glass maker, has roped in a new investor, Lotus One Investment Pte of Singapore,” reported Hindu Business Line.

Lotus One is a Singapore-based SPV, making a strategic investment to reduce HNG’s debt, which would see it hold more than 30% of HNG’s share capital after conversion of the compulsorily convertible preference shares.

KT Advisors advised Singapore’s Lotus One Investment Pte Ltd led by a team of managing partner Kalpataru Tripathy and principal associate Ishita Bhardwaj.

Khaitan & Co Mumbai acted for Hindusthan National Glass & Industries Limited, led by a core deal team of partner Bhavik Narsana, principal associate Saswat Subasit and associate Suditi Surana with assistance from the following on regulatory aspects: partner Arindam Ghosh and associate Tanish Gupta, Tax aspects: director Vinita Krishnan, senior associate Jimmy Bhatt and senior associate Rahul Jain; competition law aspects: principal associate Anisha Chand and associate Anmol Awasthi.

2019-01-13

Deal value: USD 55 Million (Approx.)

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