JSA advised 3 Private Equity Investors in proposed sale of their stake in Ocean Sparkle Limited. The transaction is part of a 100% exit by all investors and the promoters from Ocean Sparkle by way of sale of shares to The Adani Harbour Services Limited, part of the Adani Group.
Ocean Sparkle is India’s leading port operations and marine services company providing services such as comprehensive port operations and management solutions, towage, ship to ship operations, dredging, and pilotage. Ocean Sparkle operates a fleet of 94 owned vessels and 13 third-party owned vessels, and has presenece in all major Indian ports, LNG terminals and various minor ports. It also has significant experience in global maritime servicing through its operations in Oman, Saudi Arabia, Sri Lanka, Qatar, Yemen and Africa.
Deal value: Ocean Sparkle is valued at an enterprise value of INR 1,700 Crore with INR 300 Crore of free cash in the company.
JSA team comprised Lead Partner – Sidharrth Shankar, Partner – Prakriti Jaiswal, Principal Associate – Nandini Seth, Senior Associate – Yashaswee Sarkhel, and Associate – Vidur Prabhakar.
Prakriti specialises in mergers & cross border investments & acquisitions and private equity transactions. Her experience includes rendering advisory and structuring services on a variety of transactions including acquisitions of shares & business, private equity investments, joint ventures and corporate advisory.