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Total M&A and PE deals for Mar'10 rise to US$13.83bn

The total M&A and PE (incl. QIP) deals in the month of March 2010 were valued at US$13.83bn (86 Deals) as compared to US$2.57bn (33 deals) and US$4.83bn (67 Deals) in the corresponding month of 2009 and 2008 respectively. The total value of outbound deals (Indian companies acquiring businesses outside India) in March 2010 was US$12.30bn (17deals) as compared to US$0.05bn (4 deals) and US$2.67bn (15 deals) during the corresponding month in 2009 and 2008 respectively. The total value of inbound deals (foreign companies or their subsidiaries acquiring Indian businesses) in March 2010 was US$415mn (9 deals) as compared to US$278mn (6 deals) and US$811mn (5 deals) during the corresponding month in 2009 and 2008 respectively. […]

KKR in talks for control of Firstsource

U.S. private-equity firm Kohlberg Kravis Roberts & Co is in talks to buy a controlling stake in Indian back-office service provider Firstsource Solutions, three sources with direct knowledge of the matter said. KKR is negotiating to buy a stake totalling about 68 percent of the IT services company from No. 2 Indian lender ICICI Bank, Singapore state investor Temasek Holdings and U.S.-based banking technology group Metavante, the sources said. A deal has not been finalised, but a sale price could be about $250 million, said two of the sources. None of the sources wished to be named as they were not authorised to speak to the media. Firstsource has a market value of $300 million. Private equity investment in India fell more than 60 percent in 2009 when the global financial crisis deepened, but a string of high-profile deals this year suggests a rebound. […]