India M&A deals in H1 up 47% at $17 billion

India M&A deals in H1 up 47% at $17 billion
Mergers and acquisitions (M&As) in India witnessed a significant jump in the first six months this year to USD 17.1 billion, up over 47 percent year-on-year, says a report.

"The value of India targeted M&A activity was valued at USD 17.1 billion in H1 2014, a 47.4 percent increase from H1 2013 when it stood at USD 11.6 billion," global deal tracking firm Mergermarket has said in the latest report.

The April-June quarter of this year saw deals worth USD 13.4 billion, accounting for 78 percent of the total first half deal value. In the January-March quarter there were M&A transactions worth USD 3.7 billion only.

The second quarter was the most active quarter by value since the Q2 of 2012. Moreover, there was also an influx of large cap deals compared to the first quarter of this year.

Two of the largest deals come from UK-based bidders (Diageo and Vodafone Group) which resulted in an impressive Q2 for inbound activity valued at USD 6.3 billion.

Pharma, medical and biotech were the most active sectors during the first half of 2014 as they cornered 27 percent of market share from deals worth USD 4.6 billion.

Interestingly, though the industrials and chemicals sector led the industry chart in terms of number of deals (27), the deal value totalled to just USD 0.6 billion, down 61.4 percent over the corresponding period a year ago.

The USD 3.97 billion Sun Pharma-Ranbaxy deal was the top item in the first six months this year, followed by Diageo acquiring 26 percent stake in United Spirits for USD 3.14 billion and Vodafone Group's 10.97 percent stake acquisition in Vodafone India from Piramal Enterprises for USD 1.47 billion.

Other major deals were Adani Ports and Special Economic Zone's (APSEZ) acquisition of Dhamra Port in Odisha from Tata Steel and L&T Infrastructure Development Projects (L&T IDPL) and Reliance Industries-Network 18 Media deal.

The financial advisor league table was topped by Citi which advised five deals worth USD 8.2 billion, while EY clinched the first position in terms of number of deals (13 transactions totalling USD 5.2 billion), the report added.


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