'Tata-Ford deal to augur well for Indian M&A scene'

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New Delhi, March 26: Tata Motors' deal worth $2.3 billion with Ford Motor Company for its Jaguar and Land Rover marques will boost India Inc's mergers and acquisition volumes, which stood at 5.96 billion dollars in the first two months of 2008.

Tata Motors deal holds significance as the aggregate deal value of 2.3 billion dollars comprises about 40 per cent of the total M&A volumes in the past two months.

The total number of M&A deals announced in the month of January, 2008 stood at 56 with a total announced value of $3.01 billion, while in the month of February, there were as many as 36 M&A deals with a total announced value of $2.95 billion, according to global accounting and management-consulting firm Grant Thornton.

Among the significant deals last month were HDFC Bank's merger with Centurion Bank of Punjab and Walt Disney Company's acquisition of 17.2 per cent stake in UTV Software Communication to increase its stake to 32.10 per cent in the company.

Analysts said the deal would definitely impact the M&A space in India and shows that brand India is getting global recognition.