February 2009
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M&A value dips 5%, volumes fall by 17% in 2008

Mergers and acquisition (M&A) activity in the Asia Pacific region did not escape unscathed from the effects of global financial crisis that originated in the US. According to a study by ICICI Bank Global Investment Banking Group, overall M&A value dipped by 5% while deal volumes fell by almost 17% during 2008. During the year, Greater China dominated the M&A scene, closely followed by Australia, Japan and Hong Kong. Of the overall deals done in Asia-Pacific, China accounted for over 22% deals in the Asia-Pac region. Deal value for the region jumped from $101 billion in 2007 to $155 billion in 2008, making up more than 39% of the total deal value in Asia-Pacific. Indonesia also posted a strong gain, nearly quadrupling ts deal value to $19 billion. However, Japan (accounting for over 15% of overall deals), Australia (17%), India (6%) and Malaysia (1.5%) saw marked declines in deal values. […]

VC Firm NEA invests USD 6 Mn in VAS

Mobile value added services (VAS) company ValueFirst Messaging has raised $6 million(Rs 30 crore) from the US-based venture capital firm New Enterprise Associates (NEA) to fund its expansion plans. ValueFirst, which currently offers SMS-based services, is planning to introduce internet and voice based services for the mobile platform in India. The quantum of stake picked by NEA in the Gurgaon-based company was not disclosed. “We have been in the business for five years and expanding rapidly. The funds will help us scale up our operations across India and abroad and recruit new heads,” said ValueFirst CEO Vishwadeep Bajaj. […]

BDO Stoy Hayward buys 10% stake in Haribhakti Consulting

BDO Stoy Hayward LLP, UK’s fifth largest accounting firm, has bought a 10% stake, worth Rs10 crore, in India’s Haribhakti Consulting Pvt. Ltd, Shailesh Haribhakti, managing director said on Wednesday. The deal marks the entry of global accounting firms into second-tier accounting companies in India. BDO Stoy Hayward, founded in 1903, will bring technology and global clients to the joint venture while the Indian partner will provide access to the Indian market. BDO does audits and provides consulting services to five of the 250 largest companies in the Financial Times list of top companies. Haribhakti has a client list of 250 Indian companies, including HDFC Bank Ltd, Reliance Petroleum Ltd and Reliance Infrastructure Ltd. (Livemint) […]

PTC India to enter into PE business

PTC India, the leading provider of power trading solutions in India, is planning to foray into the private equity (PE) business with an initial investment of more than Rs 5 billion, reports Business Standard. The PE firm will in turn raise funds from other institutional investors, domestic and overseas. The company is considering to raise up to Rs 15 billion via various routes, which will be partly used to start the PE fund. Of this, Rs 12 billion will be raised by PTC via private placement of non convertible debentures (NCDs) and warrants. Another Rs 3 billion will be mopped up by PTC Finance Services (PFS), the financial arm of PTC India.(My Iris) […]