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M&A and PE deals in India see a dip
By siliconindia
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Friday, 12 December 2008, 22:28 IST |
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Bangalore: Trodden by the slowing economy, the Indian firms are slashing their expansion plans with mergers and acquisition (M&A) seeing a decline by 37.09 percent. The country has also witnessed a slump in the private equity (PE) space as the number of deals stood at 295 till November valued at $10.11 billion as against 366 deals amounting to $15.73 billion during the corresponding period in 2007.
As per a study by global consultancy major Grant Thornton's Deal Tracker, the number of M&A deals during the first 11 months of this year stood at 433, with an announced value of $31.95 billion as against 635 deals amounting to $50.79 billion during the corresponding period in 2007.
However, the report shows a positive sign in the month of November which recorded 26 M&A deals and 21 PE transactions with a total announced value of $3.40 billion and $449 million. CG Srividya, Grant Thornton specialist advisory services partner points out that the November deals are higher than October 2008, which was at $2.13 billion and considerably higher than November 2007 levels which stood at $850 million.