Indian M&A Deals

andy B · Post by **andy B** » 12 Aug 2008 07:28

Ameet wrote:
Anand Barve wrote: Ameen to that my friend....btw does anyone know what the total has been in terms of M&A I know that we acquried more than $100B worth of phoren cos. in 07.....
Anand, please provide a link or your source for the $100B in 2007. The following link has Thomson Financial reporting $22.3B in 2007 and 2006 being the record year so far at $24B.

http://findarticles.com/p/articles/mi_q ... _n21171368

My bad, I approached my conclusion after reading this accenture article published in 08 on pg 8 it has a graph of the total value of M&A deals signed between 00-07, add to that the ones signed in 08 first half >/= $100B.

I meant to say total value of M&As not 07 specifically.

http://www.accenture.com/Global/Researc ... namics.htm

Pragadeesh · Post by **Pragadeesh** » 12 Aug 2008 14:33

SwamyG wrote:Something for Pragadeesh to cheer about Essar arm to buy US BPO firm for $250m

Thank you buddy

Prem · Post by **Prem** » 13 Aug 2008 01:46

Bollywood to Holywood to Bolywood to Holywood ( sar jo tera chakraye)

Reuters
DreamWorks and Reliance deal announcement soon: sources
Sunday August 10, 6:33 pm ET
By Sue Zeidler
http://biz.yahoo.com/rb/080810/dreamwor ... .html?.v=2

LOS ANGELES (Reuters) - Steven Spielberg and David Geffen may announce as soon as this week a deal with Reliance ADA Group to set up a new studio and split from Paramount Pictures, sources familiar with the deal said on Sunday.
ADVERTISEMENT

However, the DreamWorks team has not ruled out Paramount as their distributor, the sources said.

The impending union between Mumbai-based Reliance and Spielberg's DreamWorks team caps two years of speculation and feuding between Spielberg, his DreamWorks co-founder David Geffen and the brass of Viacom Inc's (NYSE:VIA-B - News) Paramount since the sale of DreamWorks to Viacom for $1.6 billion in 2006.

Avinash R · Post by **Avinash R** » 14 Aug 2008 17:45

Center approves SBI-State Bank of Saurashtra merger
Mumbai, Aug 14: The process of merger of associate banks with the State Bank of India, amidst stiff opposition from employees union, had been given a green signal by the Union finance Minister with the Department of Financial Services passing an order to enable SBI to acquire State bank of Saurashtra.

According to a SBI information to the BSE, the merger would come into effect on the effective date as may be notified in the official Gazette by the Union Government.

SaraLax · Post by **SaraLax** » 21 Aug 2008 12:56

This one looks like a good deal....

Kirloskar Electric acquires German co Lloyd Dynamowerke GmbH & Co KG (LDW, Bremen)

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In a press release issued here, KEC said LDW, founded in 1915, manufactures electrical rotating machines and drive systems which are in demand where performance and efficiency are desired for industrial applications for extraordinary requirements. LDW’s customers include companies such as Siemens, Alstom, Thyssen Krupp and Gottwald.

In 2006, the private equity company, CMP Fonds I GmbH from Berlin, Germany acquired majority ownership of LDW and provided additional capital to the manufacturer of motors, generators and drive systems.
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“KEC will benefit from LDW’s technology and ongoing research work with German universities. KEC will be able to sell LDW’s products under the AEG brand name in the Indian subcontinent and ASEAN countries and address the market for high voltage electrical machines over 50 Megawatts.”

Mr Berthold Groeneveld, CEO of LDW, said “The LDW team looks forward to becoming a part of the Kirloskar Electric family. We think that KEC is a perfect fit for our future growth in Europe and worldwide, especially in the emerging markets.”

Gerard · Post by **Gerard** » 26 Aug 2008 22:15

Indian oil firm to buy Imperial

India's biggest oil producer, ONGC, has agreed to buy Imperial Energy for $2.6bn (£1.4bn) - but it may face a battle to secure the deal.

Imperial has access to resource-rich Russian oilfields and analysts say that ONGC is looking to secure supplies of oil to fuel India's booming economy.

andy B · Post by **andy B** » 28 Aug 2008 07:37

Gerard wrote:Indian oil firm to buy Imperial
India's biggest oil producer, ONGC, has agreed to buy Imperial Energy for $2.6bn (£1.4bn) - but it may face a battle to secure the deal.

Imperial has access to resource-rich Russian oilfields and analysts say that ONGC is looking to secure supplies of oil to fuel India's booming economy.

http://www.theaustralian.news.com.au/st ... 00,00.html

This is really great news if it goes through, should give us access to the oil reserves in siberia. The Russian are against Panda buying this corp. primarilly bcoz they dont trust em (I dont blame them at all...

)

http://news.bbc.co.uk/2/hi/business/7581923.stm

UK buy bolsters India's Infosys

Gerard · Post by **Gerard** » 26 May 2009 02:58

Bharti restarts MTN merger talks

India's largest mobile phone company, Bharti Airtel, has resumed merger talks with South Africa's MTN, a year after a previous plan to join up was abandoned.

The two firms are in talks for Bharti to take a 49% stake in MTN, while the South African company would get a 36% stake in the Indian business.

Together they would become the world's third biggest mobile phone firm, with more than 200 million customers.

manish · Post by **manish** » 26 May 2009 16:29

The story is two weeks old, but still recent:
Aegis BPO to buy Australian firm for Rs 203 crore

One of the country's largest privately-held BPO company and part of the Essar group, Aegis BPO Services is acquiring UCMS Group, a BPO firm in Australia for around Rs 203 crore (AUD 54 million).

Aegis, which had revenues close to $500 million for the year ending March 2009, said that the acquisition will boost the company's presence in the life cycle management practice, in which UCMS operates along with giving it a footprint in the Australian and the New Zealand market.

Press Release says...

On completion of the transaction, Aegis will become a leader in the rapidly growing global BPO market with operations in India, the Philippines, the United States, Costa Rica, Kenya and now Australia. With more than 33,000 employees globally Aegis is well positioned to provide onshore, near shore and offshore BPO services or a combination of customized solutions to meet client requirements.

Essar seems to be going aggressive on the newgen biz front. This is apparently acquisition #12 in just 4 years for Aegis. Looks like they are targeting a Genpact like position in the long run for Aegis. But the revenues and yields per employee would still need to improve further, considering the fact that they have some 33,000 on rolls now for revenues of under $500mil.

arun · Post by **arun** » 02 Jun 2009 22:44

Indian firms' foreign purchases

Gone shopping

May 28th 2009 | DELHI
From The Economist print edition

As Indian companies juggle their pricey foreign acquisitions, the country’s largest telephone company embarks on the biggest shopping expedition of them all.

INDIANS are fond of shopping abroad, a habit left over from the era of import substitution, when they had to put up with shoddy homespun goods in the name of national self-sufficiency. This taste for overseas purchases is shared by Indian companies. Between 2000 and 2008 they announced over 1,000 international mergers or acquisitions, worth over $72 billion, according to Dealogic, a research firm. Most of those deals have been sealed since 2006 (see chart). .................

The Economist

Ameet · Post by **Ameet** » 16 Jun 2009 02:38

Vedanta to Raise Bid in Asarco Bankruptcy

http://online.wsj.com/article/SB124499998232213265.html

Highlights:

The advantage in the battle to take copper giant Asarco LLC out of bankruptcy is expected to shift this week as Vedanta Resources PLC increases its bid, countering an offer filed by Mexican mining conglomerate Grupo Mexico SAB.

An amended debtor's filing that may be submitted as soon as Monday will show a unit of Vedanta, a London-based mining conglomerate with the bulk of its assets in India, will increase to $770 million from $600 million the note portion of its offer -- valued at between $2 billion and $3 billion including all liabilities.

Jamal K. Malik · Post by **Jamal K. Malik** » 25 Jun 2009 21:44

Jaiprakash Power Ventures to merge with group company
http://www.business-standard.com/india/ ... ny/362042/

Jamal K. Malik · Post by **Jamal K. Malik** » 25 Jun 2009 22:10

Dabur completes Fem acquisition ; to launch new products
http://www.business-standard.com/india/ ... s/65617/on

Jamal K. Malik · Post by **Jamal K. Malik** » 02 Jul 2009 20:42

Kavveri Telecom acquires Canada's Trackcom Systems Intl
http://www.ddinews.gov.in/Business/Busi ... es/kav.htm

Jamal K. Malik · Post by **Jamal K. Malik** » 03 Jul 2009 22:44

Not much value in merging UltraTech with Grasim

Jamal K. Malik · Post by **Jamal K. Malik** » 04 Jul 2009 19:56

Bank Unions defer July 6 strike over SBI associate merger

Jamal K. Malik · Post by **Jamal K. Malik** » 04 Jul 2009 20:19

CCI plans to fast track M&A cases

Jamal K. Malik · Post by **Jamal K. Malik** » 04 Jul 2009 20:39

SBI banks on SBS success for future M&As

SwamyG · Post by **SwamyG** » 08 Jul 2009 21:08

IndLaw goes 'phoren'. It was bought by Thomson Reuters.

Jamal K. Malik · Post by **Jamal K. Malik** » 11 Jul 2009 17:21

M&A, public offer guidelines for insurance players in 2 months

svinayak · Post by **svinayak** » 11 Jul 2009 21:15

SwamyG wrote:IndLaw goes 'phoren'. It was bought by Thomson Reuters.

THis is the problem and nobody seems to understand the strategic nature of information. Information is power and control
Only Indians and Indian companies and legal approved agencies should control such information.

“The amount of data that Indlaw has on a realtime basis is huge. They have historical data of case history and others dating back to British time, which is over 200 years old. They did this with approximately 18 people,” said Vivek Sekhar, Chairman & CEO, 2i Capital India.

With the recent global meltdown, financial information services companies have been suffering from loss of clients globally. The acquisition of Indlaw by Thomson Reuters is an example of how large information companies are looking at fast growing markets like India for expanding their footprint. Thomson is already present in financial data in Indian market.

SwamyG · Post by **SwamyG** » 13 Jul 2009 21:39

Acharya:
This old news Of legal history and big bucks gives us more insight into what is happening and why it is happening.

More here

manish · Post by **manish** » 22 Nov 2009 00:06

Looks like this long rumoured deal has finally moving closer to reality. This will be another biggie.
Reliance Tenders Cash Offer for LyondellBasell: Bloomberg

Nov. 21 (Bloomberg) -- Reliance Industries Ltd., India’s most valuable company, said it made a preliminary cash offer to buy a controlling stake in LyondellBasell Industries once the petrochemicals and fuels company emerges from bankruptcy. The offer amount was not disclosed.

Lyondell Chemical, based in Houston, had assets of $27.1 billion, debt of more than $19.4 billion and more than 25,000 creditors, according to the petition filed in U.S. Bankruptcy Court in Manhattan.

However, the co has to win court approval for its reorg plans first, and that is gonna take some time.

Last month, Lyondell changed the terms of its $8 billion bankruptcy financing to extend a Dec. 15 deadline to Feb. 3 to give it more time to win court approval of a reorganization plan.

Philip · Post by **Philip** » 16 Jan 2010 13:42

The Indian invasion of Hollywood! Not that the Amrithraj brothers and Ashok didn't foray into that world earlier.A takeover of MGM would make it the most famous ever Indian "takeaway" surpassing anything before even Tata's JLR.

http://www.telegraph.co.uk/news/worldne ... tudio.html

Bollywood mogul Anil Ambani to launch bid for MGM film studio

A Bollywood movie mogul is planning a takeover of the Metro-Goldwyn-Meyer Hollywood studio in an attempt to become one of the world’s most powerful film bosses.

By Dean Nelson in New Delhi
Published: 6:21PM GMT 15 Jan 2010

Anil Ambani has struck a series of deals with stars including Brad Pitt, Jim Carrey, Julia Roberts and George Clooney to develop their films Photo: AFP/GETTY

Anil Ambani already owns a controlling stake in Steven Spielberg’s DreamWorks studio and has struck a series of deals with stars including Brad Pitt, Jim Carrey, Julia Roberts and George Clooney to develop their films.

His Reliance Big Pictures company conquered Bollywood by producing the two most successful films of the last year while his current blockbuster, The Three Idiots, has broken Indian box office records. He hopes to expand his influence with an ambitious bid for MGM, the Hollywood studio which owns the James Bond franchise. Sources close to Mr Ambani confirmed his interest in acquiring MGM and said it would help him to achieve his ambition to become the world’s most powerful film mogul.

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Michael Caine's classic The Italian Job to be remade for BollywoodMr Ambani, who is married to Tina Munim, a former Bollywood actress, is a controversial but respected tycoon whose empire spans power generation, distribution, insurance, financial services and communications. His company is India’s second largest mobile phone operator.

He is locked in a bitter feud with his brother Mukesh, the richest Indian, which began following the death of their father, Dhirubhai Ambani, who began his career as a petrol pump attendant and made his fortune producing polyester for the poor. The brothers fought for control of the company, which was eventually divided into two groups.

Anil Ambani emerged as the world’s greatest loser in the 2008 financial crisis when he lost more than £18 billion. Today his fortunes have revived and his empire is growing once again.

The acquisition of MGM would bring one of Hollywood’s greatest film libraries under his control and land a series of likely box office hits over the next three years. MGM will release a new James Bond film in 2011, starring Daniel Craig, and two Hobbit films starring Sir Ian McKellen.

MGM needs a buyer to avoid potential bankruptcy later this year when a series of debts must be repaid. Its current consortium of owners is asking for bids beyond $2 billion, but debts of $3.7 billion mean it is likely to be sold for a lower figure.

shiv · Post by **shiv** » 17 Jan 2010 20:05

http://www.telegraph.co.uk/news/worldne ... tudio.html

Anil Ambani emerged as the world’s greatest loser in the 2008 financial crisis when he lost more than £18 billion. Today his fortunes have revived and his empire is growing once again.

Note the not so subtle language of subtle heartburn.

SwamyG · Post by **SwamyG** » 17 Feb 2010 02:16

Bharati Airtel and Zain have entered into exclusive talks for Bharti to acquire Zain's African assets. Bharti might pay $10.7 billion.

SwamyG · Post by **SwamyG** » 17 Feb 2010 02:18

India Inc's M&As touch $2.5 bn in Jan
India Inc to spread wings via takeovers

A study, conducted by Grant Thornton and Confederation of Indian Industry (CII), points out that by 2015, one third of the world's top-500 companies will be from emerging markets.

Would 2010 be the year of Acquisitions ?

In just 45-days of 2010 India Inc has announced deals worth $14 billion, while in the whole of year 2009, India Inc. made deals worth a modest $11.9 billion.

SwamyG · Post by **SwamyG** » 22 Feb 2010 06:30

Renuka Sugars buys Brazil’s Equipav SA for Rs 1,530 cr. In October 2009, it had bought another Brazilian co.

Ameet · Post by **Ameet** » 22 Feb 2010 11:54

Reliance Raises Bid for LyondellBasell

http://online.wsj.com/article/SB1000142 ... lenews_wsj

India's Reliance Industries Ltd. has again sweetened its offer to take control of LyondellBasell Industries when it exits bankruptcy, boosting its valuation of the chemical maker to $14.5 billion, according to a person familiar with the matter.

The offer, made over the weekend, would give Reliance a minority stake in Lyondell, but would give the Indian company super-voting power to control Lyondell's board, this person said.

Unlike a previous offer Reliance made, the new offer would give some creditors a chance to get cash for their claims. Creditors could also choose to receive stock in the restructured Lyondell under the new offer. A third option would allow some creditors to receive stock and also purchase additional Lyondell stock in a rights offering.

Reliance's latest offer comes after Lyondell rejected a previous sweetened bid that valued the company at around $13.5 billion. That offer had been increased from an initial November bid valuing Lyondell around $12 billion.

arun · Post by **arun** » 26 Feb 2010 07:26

India’s acquisition overseas. USD 12.4 Billion this year and for the period 2006-08 a cumulative investment of USD 62 Billion. Not exactly chicken feed:

Overseas acquisitions have already reached a record level of $12.4 billion this year, Dealogic says.

Between 2006 and 2008, Indian companies spent $62 billion to buy companies overseas

From WSJ:

An acquisitive mood returns to India

Ameet · Post by **Ameet** » 06 Mar 2010 00:18

Essar to buy Trinity for up to $600m

http://www.ft.com/cms/s/0/a39ab9b4-27f5 ... abdc0.html

Essar will acquire control of Trinity from US-based investment firm Denham Capital Management and plans to use the coal to service its steel plant and iron ore operations in North America, said people familiar with the matter.

Trinity, one of the US's 10 largest coal producers, has mines in Kentucky and West Virginia, with reserves of 200m tonnes. Its annual output is about 7m tonnes.

Metallurgical coal from Trinity will supply Essar's Algoma steel plant in Canada and planned steel operations in Minnesota, where it has iron ore reserves of 1.4bn tonnes.

Essar, with $15bn of revenue, is controlled by brothers Shashi and Ravi Ruia, joint fifth on Forbes' Indian rich list. It is one of India's biggest steel producers, with 14m tonnes of capacity coming on line this year globally. It has a minority stake in Vodafone Essar, and seeks to expand in oil and gas with exploration and production blocks in countries like Madagascar, Indonesia and Australia.

Ameet · Post by **Ameet** » 06 Mar 2010 00:21

Reliance to look elsewhere if bid fails

http://www.ft.com/cms/s/0/eee92c6a-2878 ... abdc0.html

Reliance Industries will immediately resume its hunt for large global acquisitions if LyondellBasell, the bankrupt global fuels, chemicals and plastics maker, next week spurns the Indian group’s $14.5bn takeover offer.

Since offering $12bn for LyondellBasell in November, Reliance has raised its bid twice, but analysts say that at $14.5bn, the offer is fully priced at 10 times forecast 2010 earnings before interest, taxation, depreciation and amortisation.

“They are bottom fishers really,” said another person familiar with Reliance. “They like to do things at rock-bottom prices.”

Some believe Reliance will withdraw for now and watch how LyondellBasell performs once it emerges from bankruptcy.

In the meantime, it is expected to eye assets including the US refining business of Valero Energy.

Reliance is also looking at Value Creations (VCI), an Alberta-based group that owns one of the largest holdings of oil sands in the world, after it emerged that the Canadian company had been placed under court protection from creditors.

Akshut · Post by **Akshut** » 24 Mar 2010 19:52

Bharti seals deal with Zain for $10.7 bn
http://beta.profit.ndtv.com/news/show/b ... 7-bn-31876

Bharti Mittal's multi-billion dollar African acquisition has finally been sealed. The board of Zain, Kuwait's largest mobile firm, has approved the sale of its African assets to India's largest telecom firm Bharti Airtel for $10.7 billion (Rs 49,000 crore)

Ameet · Post by **Ameet** » 05 Apr 2010 00:59

India Inc's M&A deal tally hits $19 billion so far this year

http://economictimes.indiatimes.com/Ind ... 759102.cms

Driven by Bharti Airtel's $10.7- billion takeover deal for the African assets of Kuwait's Zain Telecom, the total value of merger and acquisition deals in the country in the first quarter of 2010 has nearly quadrupled to a whopping $19 billion.

According to VCCEdge, the financial research platform of VCCircle, the value of merger and acquisition (M&A) deals in India rose to $19.20 billion in the first quarter of this year, up from $5.19 billion a year ago.

The number of domestic transactions doubled from 39 deals worth $2.27 billion in Q1 of 2009 to 80 deals worth $4.06 billion in the same period of this year, VCCEdge said.

Further, there were 51 outbound deals in the period under consideration, while the figure stood at 24 a year ago. In terms of value, the increase was more than seven times, primarily due to the Bharti - Zain deal.

The number of inbound deals also rose to 29 in first three months of 2010 from 24 deals in the same period of 2009.

Going forward, the value and volume of Indian M&A activity is likely to increase as investor confidence and liquidity returns to the market.

"Strategic investors will try to take advantage of lower valuations in the midst of the crisis and strengthen their position across various sectors," the report said.

A sector wise analysis shows that telecommunication services, energy and healthcare were the most targeted sectors as these segments attracted deals worth $14.03 billion, $1.17 billion and $961 million respectively.

Big ticket deals dominated the M&A space this year as large deals (worth $100 million and above) accounted for as much as 90 per cent of total capital invested in the first quarter this year.

The top two deals in the first three months of this year were the $10.7-billion acquisition of Zain's African operations by Bharti Airtel, followed by the $1.8 billion acquisition of tower assets of Aircel by GTL Infrastructure.

Other major deals in the period under consideration include Fortis Healthcare' $685-million investment in Parkway Holdings, Essar Group's $600 million acquisition of Trinity Coal Corp and Telenor ASA's $433 million stake buy in Unitech Wireless.

The five major deals in the first quarter of this year accounted for over 71 per cent of the total M&A deals, the report added.

Ameet · Post by **Ameet** » 07 Apr 2010 21:39

Godrej Goes Overseas — Again!

http://blogs.wsj.com/indiarealtime/2010 ... eas-again/

GCPL late Tuesday agreed to acquire Indonesia’s PT Megasari Makmur Group—a maker of household insecticides, wet tissues and air fresheners—making it the soap maker’s fifth overseas acquisition in five years. For the uninitiated, GCPL just last month agreed to acquire Nigeria-based personal care products brand Tura for an undisclosed amount. It also acquired two South African firms — hair color company Rapidol in 2006 and hair accessory maker Kinky — in 2008. In 2005, it bought Keyline Brands, a U.K.-based provider of personal-care products.

“This is the largest ever acquisition by GCPL and also one of the largest acquisitions by an Indian Fast-Moving Consumer Goods company,” says Nikhil Vora, an analyst at IDFC-SSKI Securities, putting an estimated value of $250 million to $300 million on the deal. The price was not disclosed.

Chinmayanand · Post by **Chinmayanand** » 11 Apr 2010 15:14

Videocon eyeing Philips' consumer products biz in India

Ameet · Post by **Ameet** » 12 Apr 2010 10:06

Coal India Nears Peabody Deal for Mines, Sydney Herald Says

http://www.bloomberg.com/apps/news?pid= ... CrgGCwAlFU

Coal India Ltd. is in advanced talks for a $1 billion deal with Peabody Energy Corp. that would give the Indian miner a stake in four Australian mines, as well as other international assets, the Sydney Morning Herald reported, citing Coal India unit chief general manager Phalguni Guha. The Peabody deal may be completed in the next few months, according to the report.

Ameet · Post by **Ameet** » 11 May 2010 01:42

Vedanta buys Anglo zinc assets for $1.34 billion

http://www.reuters.com/article/idUSTRE64936S20100510

India-focused mining group Vedanta Resources Plc bought Anglo American Plc's zinc assets for $1.34 billion on Monday to boost its exposure to the metal and expand its presence in Europe and Africa.

Vedanta will become the world's largest zinc producer with 11 percent of the global market after buying the assets.

Vipul · Post by **Vipul** » 11 May 2010 19:46

Away from the Media spotlight on the Ambani's, Mittal's and Ruia's, two industrialist's who will be increasingly dominating their respective domains (and more) are Anil Agarwal and Gautam Adani.
Anil Agarwal driven by his Mega ambitions, has long ago fulfilled the initial target of unsitting the Aditya Birla Group as India's largest Metal's Producer/Trader. Just a dozen more of such ambitious, visionary and no holds barred mega entrepreuners is what India needs.

anmol · Post by **anmol** » 11 May 2010 22:40

Vipul wrote:Away from the Media spotlight on the Ambani's, Mittal's and Ruia's, two industrialist's who will be increasingly dominating their respective domains (and more) are Anil Agarwal and Gautam Adani.
Anil Agarwal driven by his Mega ambitions, has long ago fulfilled the initial target of unsitting the Aditya Birla Group as India's largest Metal's Producer/Trader. Just a dozen more of such ambitious, visionary and no holds barred mega entrepreuners is what India needs.

Gautam Adani was recently arrested by Delhi Police for cheating, what is your observation on that incident.