Tuesday, October 18, 2005

Deals in India.. What is going on there.

Read below and you wont be surprised. Some one is going to buy the all freaking business going around in India.. We have to start an antitrust group in India. More merger and Acquistions are happening and they are growing at an alrming rate.. Big grin for I banker.. Thats what I will say.. ( Please leave some companies alone up there so that I can come and do the rest of the Merger acquistion).

Read below what the hell is going there..( I am sincerely happy for that )

Bharat Forge making yet another global acquisition, Fortis buying Escorts Heart research Institute, and Newbridge Capital putting $100 million into Shriram Holdings

Rumours that Mukesh Ambani is on the verge of making a mega-acquisition of a global petroleum company or that Anand Mahindra has thrown his hat into the ring to buy Arvin Meritor, an ailing US auto components company

Consulting firm PricewaterhouseCoopers (PwC) has totted up the figures. The value of deals announced in the first six months of 2005 is $6.9 billion. This is streets ahead of the $2.9 billion clocked in the first half of 2004, and even more than the $5.2 billion in the whole of 2004. A similar study by Bloomberg too shows that the deal flow has more than doubled this year. At this rate, India Inc's final mergers and acquisitions (M&A) count for the year may come to $15 billion. No wonder, investment bankers sport expansive smiles these days.

The average deal value is 42 per cent higher, at Rs 94.4 crore ($21.7 million). PwC says that India has the fastest-growing M&A market in the Asia-Pacific region this year, second only to Japan's.

International Venue

Oracle bought 41 per cent of i-flex solutions for $593 million. Tata Steel bought Singapore-based NatSteel for $486 million. Videocon bought the colour picture tubes business of Thomson for $290 million. And that's what makes this wave of deals so different from the ones that have preceded it.