Outbound deals almost equal to Inbound Deals

The growing power and international presence of Indian corporates is today reinforced by the findings of KPMG International's latest Emerging Markets International Acquisition Tracker (EMIAT). The EMIAT, which tracks trade buyer deals between emerging and developed economies on a six-monthly basis from the start of 2003 using data sourced from Zephyr, now shows 322 completed deals where Indian trade buyers have acquired companies in the major developed economies.

This compares to 340 deals completed in the opposite direction (developed economy trade buyers buying into India). With outbound deals now having outnumbered inbound deals for the each of the last three six-month periods, India seems well set to become a net ‘deal exporter’ in the next EMIAT in 2009.

As acquirers, Indian companies are now serious players on the world scene. In sporting terms, there is strength in depth here too; this is not just about the headline acquisition of Indian titans such as Tata. This is about an ability to strike overseas deals filtering down throughout the Indian corporate scene.”

http://www.kpmg.com/Global/IssuesAndInsights/ArticlesAndPublications/Pages/Indiantradebuyers.aspx

Sun Pharma win Tel Aviv Court in Taro Case

28 August 2008 Economic Times,First Page

Tel Aviv District court aksed promoters of Israeli drug maker Taro to sell their stake to Sun at the agreed price of $7.75 a share. The court rejected Taro's contention that Sun should have conducted a special tender offer under Israeli law.

M&M's Acquisition of Jiangsu Yueda Yancheng Tractor

M&M's Acquisition of Jiangsu Yueda Yancheng Tractor Manufacturing Co. Ltd, China


M&M's acquired Jiangsu Yueda Yancheng Tractor Manufacturing Co. Ltd, China for a relatively samm investment of $26 million.

Yancheng has manufacturing capacity of 26,000 tractors a year. It has a turnover of $20 million in the last fiscal year. Its valuation is $50 million.

Mint 19 august 2008, p 14.

RIL writes to MTN

RIL seems to have written a letter to MTN as well as RCOM citing a non compete agreement, according to RIL's interpretation, empowers it wtih the first right of refusal in case any group decides to sell any of its business."

Economic Times, 14 June 2008, Head line story

No takers yet for GE Money

The plan of General Electric Co. to sell the the Indian unit of its consumer finance company GE Money Financial Services Ltd. is yet to go through.

Morgan Stanley is the adviser for this deal to GE.

Around 40 investors, including Reliance Capital Ltd, Future group of Kishore Biyani, Indiabulls and Aditya Birla group have shown interest and some of them have done due diligence.

But the interested parties are not giving a quote close to the expectations of GE which a premium of $250 million (about Rs.1,073 crore) over the book value of assets.

Daiichi snaps up Ranbaxy

Economic Times dated 12 June 2008 Headline news

Daiichi snaps up ranbaxy for $4.6 B

Singhs get Rs 10 K Cr for entire 34.8% at 737 per share, Malvinder to stay as CEO.

Grasim Sells Sponge Iron Business For Rs. 1030 cr.

Tuesday, 10 June 2008

Grasim Industries said it has sold its sponge iron business-Vikram Ispat to Welspun Power and Steel for Rs.1,030 crore.

The transaction is expected to be completed within next six months.



Economic Times, 11 June 2008, page 1