Contact us

M&As continue to click, June sees 51 deals worth $5.35 bn

Amid apprehensions of economic slowdown, India Inc. seems to have resorted to mergers & acquisitions to keep their business going. The number of M&A deals announced in June stands at 51 with value at $5.35 billion, as against 49 deals and $2.92 billion in May, reveals Dealtracker, a monthly report by Grant Thornton. According to the report, the most significant deal was Japan’s Daiichi Sankyo Co. acquiring 34.8 per cent stake in Ranbaxy Laboratories Ltd. for $2.40 billion. This is followed by GMR Infrastructure Ltd ’s acquisition of 50 per cent stake in Netherlands based InterGen NV for $1.10 billion. There were 20 domestic deals (both acquirer and target company being Indian) with an announced value of $1.01 billion and 31 cross-border deals with an announced value of $4.33 billion. Nineteen of the cross border deals were outbound, where Indian companies acquired business outside the country and valued at $1.90 billion. Twelve were inbound deals where international companies or their subsidiaries bought Indian business with an announced value of $2.44 billion. […]

Tatas giving shape to wide-gambit PE entry

The $29-billion Tata Group is in the process of making a major private equity push through its flagship financial services company, Tata Capital Ltd (TCL). The plans being drawn up relate to setting up PE funds aimed at mid-cap, technology and healthcare sectors. TCL managing director & CEO Praveen P Kadle told FE: “The plans are currently on the drawing board stage, and we hope to unveil it around September. We are looking at areas like the mid-cap space and technology firms.” TCL sources said each fund would be to the tune of $200-300 million, and would aim at getting investors also from the non-resident Indian community. The PE plan is part of a broader financial services game plan being put in place by the Tata Group under the Tata Capital umbrella. “We plan to leverage the strength and contacts we have in several business sectors through our group companies,” said a source. In the technology segment, IT and communications would be focus areas, where the group has a significant presence. […]