French chemical company Rhodia Group has acquired by way of slump sale (through its wholly owned subsidiary, Rhodia Polymers & Specialties India Private Limited) the polymer compounding business of PI Industries Limited..J. Sagar Associates advised Rhodia with a team led by M & A Partner Sandeep Mehta, Real Estate Partner Ashoo Gupta along with Senior Associate Amit Sirsikar and Associate Medha Deo..Neo Juris advised PI Industries Limited with a team led by Partners Arvind Biswal and Gitika Aggarwal..VCCircle reports that this strategic sale is part of the corporate restructuring exercise of Standard Chartered Private Equity-backed PI Industries towards consolidating its position in its core activities of agro-chem and fine chemical businesses. Rhodia, which caters to automotive, electronics, flavours and fragrances, health, personal and home care, consumer goods and industrial segments will get to strengthen its presence in India, with this deal. The deal will further help Rhodia increase its presence in India’s polyamide compound market to more than 15 percent by 2015.
