According to a report by deal-tracking firm, Dealogic, Corporate India’s mergers and acquisitions (M&A) volume has touched US$ 17.8 billion with ONGC Videsh's takeover of Imperial Energy Corp. After 2007, M&A volume of US$ 17.8 billion is the second highest year-to-date volume on record. M&A deals worth US$ 18.4 billion were announced in the same period last year.
The average size of the deal also saw an increase of 6 per cent. Dealogic analyst, Kaushik Punjabi informed, “The average deal size was US$ 174 million till date in 2008, while for the full year of 2007, it stood at US$ 164 million." He added, "The acquisition of Imperial Energy Corp by ONGC Videsh for US$ 2.6 billion was the largest Indian outbound deal this year and the third largest Indian outbound deal on record."
The UK was the most targeted country in 2008 year-to-date, accounting for deals worth US$ 6 billion, followed by the US with US$ 4.9 billion, and Spain with US$ 1.4 billion.
A sector-wise analysis of overseas deals revealed that oil and gas was the most sought-after-industry by India Inc, accounting for deals worth US$ 3.2 billion, followed by metal and steel with US$ 2.6 billion. Auto and truck was the third most targeted industry.
The average size of the deal also saw an increase of 6 per cent. Dealogic analyst, Kaushik Punjabi informed, “The average deal size was US$ 174 million till date in 2008, while for the full year of 2007, it stood at US$ 164 million." He added, "The acquisition of Imperial Energy Corp by ONGC Videsh for US$ 2.6 billion was the largest Indian outbound deal this year and the third largest Indian outbound deal on record."
The UK was the most targeted country in 2008 year-to-date, accounting for deals worth US$ 6 billion, followed by the US with US$ 4.9 billion, and Spain with US$ 1.4 billion.
A sector-wise analysis of overseas deals revealed that oil and gas was the most sought-after-industry by India Inc, accounting for deals worth US$ 3.2 billion, followed by metal and steel with US$ 2.6 billion. Auto and truck was the third most targeted industry.
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