India Inc M&A volume surges to $17.8 billion: Dealogic
ONGC Videsh's takeover of Imperial Energy Corp has propelled the volume of India Inc's merger and acquisitions in the pipeline to $17.8 billion so far this year, says a report.
By PTI |
NEW DELHI: ONGC Videsh's takeover of Imperial Energy Corp has propelled the volume of India Inc's merger and acquisitions in the pipeline to $17.8 billion so far this year, says a report.
M&A volume of $17.8 billion is the second highest year-to-date volume on record after 2007, deal tracking firm Dealogic said in its report.
Corporate India had announced M&A deals worth $18.4 billion in the same period last year, it added.
The average deal size also witnessed a jump of 6 per cent. "The average deal size was $174 million till date in 2008, while for the full year of 2007, it stood at $164 million," Dealogic analyst Kaushik Punjabi said.
"The acquisition of Imperial Energy Corp by ONGC Videsh for $2.6 billion was the largest Indian outbound deal this year and the third largest Indian outbound deal on record," Punjabi added.
A sectoral analysis of cross border deals shows that oil and gas was the most targeted industry by the Indian acquirers on cross border deal segment so far this year as it accounted for deals worth $3.2 billion.
Metal and steel followed suit with $2.6 billion and auto and truck was the third most targeted space.
The UK was the most targeted nation by India Inc in 2008 year-to-date, accounting deals worth $6 billion.
While, the US was the second most targeted nation ($4.9 billion), followed by Spain ($1.4 billion).
M&A volume of $17.8 billion is the second highest year-to-date volume on record after 2007, deal tracking firm Dealogic said in its report.
Corporate India had announced M&A deals worth $18.4 billion in the same period last year, it added.
The average deal size also witnessed a jump of 6 per cent. "The average deal size was $174 million till date in 2008, while for the full year of 2007, it stood at $164 million," Dealogic analyst Kaushik Punjabi said.
"The acquisition of Imperial Energy Corp by ONGC Videsh for $2.6 billion was the largest Indian outbound deal this year and the third largest Indian outbound deal on record," Punjabi added.
A sectoral analysis of cross border deals shows that oil and gas was the most targeted industry by the Indian acquirers on cross border deal segment so far this year as it accounted for deals worth $3.2 billion.
ADVERTISEMENT
Metal and steel followed suit with $2.6 billion and auto and truck was the third most targeted space.
The UK was the most targeted nation by India Inc in 2008 year-to-date, accounting deals worth $6 billion.
While, the US was the second most targeted nation ($4.9 billion), followed by Spain ($1.4 billion).
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
