Advertisement

HindustanTimes Mon,22 Sep 2014

India Inc's M&A tally touches $11 bn in first half of 2013

PTI  New Delhi, July 11, 2013
First Published: 14:13 IST(11/7/2013) | Last Updated: 14:18 IST(11/7/2013)

Merger and acquisition activity in India witnessed a significant surge in the April-June period of the year taking the year-to-date tally to $10.9 billion through 130 transactions, says global deal tracking firm mergermarket.

Advertisement

Deal activity in the second quarter of this year more than doubled to $7.7 billion over the first quarter of 2013 (January-March) when deals worth $3.2 billion were announced.

Moreover there was an uptick in both inbound and outbound deal activity with inbound M&A value jumped 190.4% from Q1 and outbound deals surged 732.6% above the Q1 2013 tally.

"Inbound M&A value jumped 190.4% from Q1 2013 ($2.3 billion) to $6.8 billion in Q2 2013," the mergermarket said adding that outbound transactions surged 732.6% above the Q1 2013 tally.

Outbound deals were the flavour of the April-June quarter as Indian firms snapped up $5.2 billion-worth of assets overseas.

Some of the key outbound deals of the quarter include ONGC and Oil India's acquisition of a a 10% stake in the giant Rovuma gas field in Mozambique for $2.5 billion -- the country's largest outbound foray so far this year.

The April-June period also featured Apollo Tyres' bid for Cooper Tire & Rubber, the largest acquisition of a US target ever attempted by an Indian bidder.

However, despite the strong recovery this quarter, H1 2013 M&A totalled $10.9 billion (130 deals) - the lowest opening half year since H1 2009 ($7.8 billion, 98 deals), mergermarket said.

The Netherlands-based Unilever's acquisition of 22.5% stake in its Indian subsidiary for $5.4 billion accounted for 52.1% of aggregate inbound H1 2013 value and consequently, the consumer sector had the highest total deal value, the report added.


Advertisement
more from Business

Airlines oppose govt policy on connectivity to remote areas

Airlines and private charter operators have opposed the government's draft policy on air connectivity to regional and remote areas, saying it will have severe impact on their financial strength.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved