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PE deals pip M&A in value
| The total value of PE deals has exceeded that of mergers and acquisitions (M&As) in the month of June, according to global accountancy firm Grant Thornton’s Dealtracker report. |
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| The value of PE deals during the month went up by $0.25 billion to $1.81 billion from $1.56 billion in May 2007, that of M&A deals decreased by $2.65 billion to $1.72 billion from $4.37 billion in May 2007. There were 36 PE deals and 63 M&A deals during the period. |
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| The significant deals in the PE space included Avenue Capital group’s 26 per cent stake buy in SKIL Infrastructure for $500 million, Goldman Sachs $300 million investment in Century Group and BNP Paribas’s $180 million investment in SREI Infrastructure Finance for a 50 per cent stake. |
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Among the M&A deals, the most important ones were Rain Calcining’s acquisition of CII Carbon and D S Construction buying the assets of Globeleq.
| WHAT'S HOT |
| Investors |
Sector |
Investment
Value in mn $ |
| NEA IndoUS Ventures |
Aviation |
5.00 |
| Goldman Sachs |
Banking &
Financial Services |
20.50 |
| BNP Paribas |
Banking &
Financial Services |
180.23 |
| iLabs Private equity fund |
IT & ITeS |
9.77 |
New Enterprise Associates
(NEA) and its Indian affiliate
NEA-IndoUS Ventures |
IT & ITeS |
25.00 |
The Carlyle Group through
its arm Carlyle Asia
Growth Capital Partners |
IT & ITeS |
10.30 |
General Atlantic (through
its investment arm
GA Global Investment)
and Carrier International |
IT & ITeS |
75.00 |
| Blackstone Group |
IT & ITeS |
200.00 |
| Temasek Holdings |
Logistics |
25.12 |
| CLSA Capital Partners |
Manufacturing |
20.30 |
| Helion Venture Partners |
Media, & Publishing |
15.00 |
International Finance
Corporation (IFC) |
Pharma, Healthcare
& Biotech |
69.77 |
Citigroup Venture Capital
International Growth Funds |
Power, Energy & Coke |
58.14 |
International Finance Corporation
(IFC), the private sector
arm of World Bank |
Power, Energy & Coke |
8.00 |
| Trinity Capital |
Real Estate &
Infrastructure |
13.77 |
Blue River Capital and
Sequoia Capital |
Real Estate &
Infrastructure |
35.00 |
| Goldmansachs |
Real Estate &
Infrastructure |
300.00 |
| GIC |
Real Estate &
Infrastructure |
105.50 |
Morgan Stanley
Dean Witter |
|
41.00 |
George Soros
Fund |
|
20.40 |
| Avenue Capital Group |
Real Estate &
Infrastructure
Management |
500.00 |
Merrill Lynch's principal
investment arm |
Research |
11.00 |
| Helion Venture Partners |
Research |
10.00 |
Lehman Brothers and
Spinnaker Investments |
Telecom |
30.00 |
| Avigo Capital Partners |
Textile & Apparels |
5.00 |
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| There were 33 domestic deals (both acquirer and target being Indian) with a value of $0.13 billion and 30 cross-border deals worth $1.59 billion. |
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| Twenty-four of the cross border deals were outbound (Indian companies acquiring businesses outside India) with a value of $1.58 billion and 6 were inbound (international firms or their subsidiaries acquiring Indian businesses) with a value of close to $ 0.01 billion. |
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| Dhanraj Bhagat, partner, Grant Thornton said, ‘’Big ticket acquisitions are taking place only in cross-border transactions since the domestic market does not have many takeover targets. The PE and M&A deals are likely to grow in the next quarter as well. Deals have gone up in IT ITES, banking and financial services in the last two months. Consolidation is happening in broking business, either foreign firms may acquire Indian firms to get a presence in India or bigger brokerages may buy into smaller players to grow.” |
Source : Business Standard
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