ChrysCapital set to buy 20% of HealthKart; EMR looks to sell Kestrel coal mine

S&P Global Market Intelligence presents In Play Today, a periodic summary of potential private equity deal activity, including rumored transactions. This summary is based on information obtained on a best-efforts basis and may not be inclusive of all potential deal activity.

– Z47, formerly Matrix Partners India, is planning to sell stakes in its portfolio companies Ola Electric Mobility Ltd., OFB Tech Pvt. Ltd., Razorpay Software Pvt. Ltd. and Dailyhunt for a total of $150 million to $180 million, The Economic Times reported, citing three people familiar with the matter. The planned sale comes a few months after Matrix Partners India spun off from its US partnership and rebranded as Z47, the report added.

– ChrysCapital LLP is poised to take a 20% stake in Bright Lifecare Pvt. Ltd., which operates Indian health products store HealthKart, with an investment of about $90 million, The Economic Times reported, citing sources aware of the development. The negotiations are in the final stages, and a deal is expected to be signed shortly, the report added, citing the sources.

– EMR Capital Pty. Ltd. hired Bank of America and Macquarie Capital to sell Australia-headquartered Kestrel Coal Resources Pty. Ltd., The Australian reported. PT Adaro Energy Indonesia holds 48% of the $3 billion-plus coal mine and has preemptive rights to buy out EMR Capital's 52% stake if the Indonesian coal company opts to keep its interest, the report added.

– Temasek Holdings (Pvt.) Ltd. is in preliminary talks to acquire a 10% to 15% minority stake in Indian snack maker Haldiram Snacks Pvt. Ltd. for over $1 billion, Bloomberg News reported, citing people familiar with the matter. The investment may serve as a precursor to a potential IPO, the report added, citing the people.

– EIG Global Energy Partners is emerging as the likely buyer of a stake in Driftwood LNG LLC from Woodside Energy Group Ltd., The Australian reported. Saudi Arabian Oil Co. owns 25% of EIG's fund, and Global Infrastructure Management LLC, doing business as Global Infrastructure Partners (GIP), is also a potential buyer of the US-based LNG terminal, the report added.

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