Tatas lead pack on India Inc's $11.3 bn global hunt
Tata Power took over Indonesia based PT Kaltim Prima Coal and PT Arutim Indonesia for $1.1 billion. Indian Hotels Company Ltd acquired Hotel Campton Palace for $60 million.
By PTI |
NEW DELHI: Tatas led the global M&A ambitions of India Inc as the home grown entities acquired companies abroad with a war chest of $11.37 billion in the first quarter of 2007-08, an Assocham Eco Pulse Study (AEP) said. The foreign firms invested much less USD 2.06 billion in buying out Indian firms during the period.
The Indian firms also stayed ahead of foreign companies in acquiring entities based and operating in the country. As against $2.06 billion buy outs by foreign firms in India, the domestic companies made $2.63 billion purchases, as per the AEP Study on Mergers and Acquisitions in First Quarter 2007-08.
"It goes to the credit of Indian entrepreneurs for reaching out to the world in a much bigger way than the overseas firms' desire to acquire business in India," Assocham President Venugopal Dhoot said.
The Tata Group carried out buy-outs to the extent of $5.35 billion at domestic and international level during first three months of the current financial year. Of this, $4.53 billion were spent on global acquisitions, while $60 million were used for domestic consolidation activity.
Tata Power took over Indonesia based PT Kaltim Prima Coal and PT Arutim Indonesia for $1.1 billion. Indian Hotels Company Ltd acquired Hotel Campton Palace for $60 million.
Tata Steel entered into a joint venture with Vietnam Steel for having a 65 per cent stake for $2.1 billion.
The Indian firms also stayed ahead of foreign companies in acquiring entities based and operating in the country. As against $2.06 billion buy outs by foreign firms in India, the domestic companies made $2.63 billion purchases, as per the AEP Study on Mergers and Acquisitions in First Quarter 2007-08.
"It goes to the credit of Indian entrepreneurs for reaching out to the world in a much bigger way than the overseas firms' desire to acquire business in India," Assocham President Venugopal Dhoot said.
The Tata Group carried out buy-outs to the extent of $5.35 billion at domestic and international level during first three months of the current financial year. Of this, $4.53 billion were spent on global acquisitions, while $60 million were used for domestic consolidation activity.
Tata Power took over Indonesia based PT Kaltim Prima Coal and PT Arutim Indonesia for $1.1 billion. Indian Hotels Company Ltd acquired Hotel Campton Palace for $60 million.
Tata Steel entered into a joint venture with Vietnam Steel for having a 65 per cent stake for $2.1 billion.
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