Flashback of the best business deals of India in 2010

By Suman Ravikumar, SiliconIndia   |   Friday, 31 December 2010, 12:03 Hrs   |    1 Comments
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Bangalore: "Indian companies are now more experienced in dealing with overseas M&A transactions and are considered serious contenders for acquiring global businesses. Acquiring global brands, gaining access to overseas markets and leveraging new technologies for Indian markets are some of the key drivers for outbound acquisitions by Indian companies," says Mahad Narayanamoni of Grant Thornton, India.

(Grant Thornton are International business advisors providing assurance, taxation, corporate secretarial, corporate recovery and consulting services.)

2010 has been the year of Mergers and Acquisitions for India. The number of deals has grown to 43 percent compared to the previous year. There were about 546 M&A which were about $42.759 billion worth. Banking, financial sectors, IT, ITES, Pharma, healthcare and biotech sectors attracted the maximum number of deals.

The Stock market of the west is still reeling under pressure after the global economic hit and hence they stock price valuation is also cheap. This situation has proved fruitful for Indian companies as they are on a shopping spree with companies abroad for cheaper deals. Indian M&A kitty is filled with foreign and in-house deals.

Let's take a walk back into 2010 to check out the best deals of 2010.

1. GTL increased its mobile towers with Aircel

GTL Infrastructure, provider of telecom infrastructure acquired Aircel Cellular's tower business in a $1.8 billion all-cash deal. Through this acquisition, GTL infrastructure moved up to the third position in terms of number of mobile towers - 33000 replacing American Tower Corporation. The fund gave Aircel the liquidity for expansion and also it was used for the roll out 3G services in India.

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