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India Inc strikes 480 merger and acquisition deals for $27.4 bn in 2013

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Summary'A revival in core sectors such as in power, road and infrastructure sectors still seem unlikely as due to lack of investor confidence'

like industry and auto have reached more reasonable levels for deals to get done.

"We could see several large transactions in the power and road industry where the large infrastructure conglomerates in India look to find ways to generate cash to reduce their incredibly high debt burdens. These assets, if already operational or near operational, will see interest from global players," Utamsingh said.

PwC India, Executive Director and Leader (Private Equity), Sanjeev Krishan, believes that "overseas investors continued to be cagey (in 2013) about India, owing to the tax issues which surfaced in 2012 and lack of any path-breaking policy moves".

The recovery in the US markets and the upturn in the European economies also meant that overseas investors focused on their home territories more than emerging markets including India, Krishan said.

The year 2013 has witnessed five deals valued at over a billion dollars each, and there were 36 deals valued at over a 100 million dollars each.

Topping the list, Unilever's stake hike in Hindustan Unilever was worth USD 3.1 billion, followed by ONGC's Rovuma oil block acquisitions for over USD 2.5 billion each.

According to data from mergermarket, domestic M&A deal value fell by almost 67 per cent year-on-year in 2013.

In 2012, domestic deal value was at about USD 20.8 billion from 167 deals, but in 2013 it stood at about USD 7 billion from 140 deals. Inbound deals fell to a total of 148 in 2013 from 172 in 2012.

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