India Inc deal value drops 80% to 3 bn in Feb
According to leading assurance, tax and advisory firm Grant Thornton, there were 70 transactions worth USD 3billion, of which merger and acquisition (M&A) deals were worth USD 2.7 billion, while private equity transaction amounted to USD 0.3 billion, in February.
This represents a drastic decline of nearly 80.58 per cent from the year ago period, when the deal tally stood at a whopping USD 15.45 billion. "With the 2013 budget being done and Government's focus to control fiscal deficit and bring back growth, we expect deal momentum to pick up in 2013 hopefully with cross-border action coming back in sectors like aviation, media, retail, pharma etc," Grant Thornton India Partner, Transaction Advisory Services Raja Lahiri said.
In February, inbound deals, wherein foreign firms or their subsidiaries acquired Indian entities, were the flavour of the month. In February 2013 there were USD 1.99 billion worth of deals through 7 transactions as compared to USD 0.27 billion by way of 9 deals in the corresponding month of 2012.
The total value of outbound deals, where Indian companies acquire businesses outside India, in February 2013 was too dat just USD 0.07 billion through 4 deals as compared to USD 0.44 billion via 5 deals during the year ago period. Value of PE deals amounted to USD 0.30 billion (29 deals) in February 2013 as compared
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