1. Asset sales free up cash

Asset sales free up cash

If 2014 saw several mergers & acquisitions (M&A) going through, with many of the deals triggered by companies wanting to deleverage...

Updated: December 29, 2014 6:29 AM

If 2014 saw several mergers & acquisitions (M&A) going through, with many of the deals triggered by companies wanting to deleverage their balance sheets. Indian corporates sold off assets worth nearly R65,000 crore during the year, more than the R60,000 crore they hawked in 2013. Among the sellers was the Jaiprakash Group which gave up a couple of cement plants with a combined capacity of 4.9 million tonnes in Madhya Pradesh and divested assets worth R16,300 crore during the year.

Bharti Airtel has so far sold 12,500 towers in Africa for an aggregate enterprise value of nearly Rs 15,000 crore. Harish HV, partner at Grant Thornton believes given companies need to do a fair bit of deleveraging, more assets could be put on the block in 2015.

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