Singapore sovereign wealth investor Temasek has agreed to buy a 20 per cent stake in the agriculture business of India’s Godrej Industries, in an INR5.72bn ($104m) deal that will help finance the company’s expansion plans.
Godrej Agrovet, which has interests in animal feed, oil palm, agri-inputs and poultry, posted sales of INR24.6bn for the financial year ended March 2012.
HSBC acted as sole financial advisor on the deal.
The transaction marks Temasek’s second investment in Godrej Industries in 2012, following a $136m investment in a 4.9 per cent stake in Godrej Consumer Products early this year.
Copyright © 2012 AltAssets