India most targeted PE investment destination in Asia: Report

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New Delhi: Merger and acquisition deals by private equity investors in India have soared to a record $2.1 billion via 52 deals so far in 2008 compared to $893 million in the previous year, making India the most targeted nation for such agreements in Asia, says a report by global financial data provider Dealogic.

"India is the most targeted nation in Asia (excluding Japan) for financial sponsor M&A buyouts in 2008 year-to-date, accounting for 36 percent of the buyouts in the region, followed by China (28 percent) and South Korea (21 percent)" the report stated.

Buyouts by private equity investors this year account for 15 percent of the total M&A deals in the country. This has increased four percent from the same period last year.

The most significant PE deal in the country has been the $324 million buyout of 14 percent stake in Akruti City by Citi Venture Capital International and American International Group this year.

PE investments constitute 8 percent of the total global M&A volumes, while they account for 6 percent of the deals in the U.S. so far this year.

The average size of the PE deals happened in 2008 has been $49 million dollars, against $27 million dollars last year.

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