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India Inc’s M&A deal value slips 45% to $1.5bn in October: Report








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发表于 2019-11-22 11:30:43 来自手机 | 显示全部楼层 |阅读模式
[img src="" aid="source=nlp&quality=uhq&format=webp&resize=720"][br][br]NEW DELHI: Corporate India witnessed merger and acquisition deals worth $1.5 billion through 28 transactions in October, registering a 45% decline over the same month last year, a report said on Thursday.[br][br]According to Grant Thornton’s latest M&A Dealtracker, there were 28 M&A deals worth $1.5 billion in October this year, while in the same period last year 47 such deals were announced worth $2.8 billion.[br][br]While the overall M&A deal value and volume in October declined as compared to the year-ago period, on a month-on-month basis, there was an increase, showing signs of improved sentiments. “This was driven by the corporate tax cut, which has improved both investor sentiment and confidence.[br][br]This also resulted in the average deal size more than doubling from $24 million in September 2019 to $55 million in October 2019,” the report said. The energy sector dominated October’s M&A in terms of values with 64% contribution to total M&A deals, driven by the largest bet on India’s clean energy with Total SA’s 37% stake acquisition in Adani Gas for $0.9 billion.[br][br]Other sectors that attracted major deals during October include pharma sector, pushed by [a href=""]Metropolis[/a] Healthcare’s acquisition of four pathology labs to fortify its foothold in [a href=""]Gujarat[/a], followed by deals in the automotive, banking and energy sectors.[br][br]“Deal volumes were fairly spread across pharma, automotive, banking and financial services, energy and [a href=""]natural resources[/a], IT and ITeS, and media and entertainment sectors,” Pankaj [a href=""]Chopda[/a], director, Grant Thornton India LLP, said.[br][br]He further noted that “manufacturing, energy and natural resources, pharma, healthcare and biotech, IT and ITeS, and banking and financial services sectors are expected to contribute to M&A transactions. However, the absence of large ticket M&A transactions will weaken the overall deal activity”. The January-October deal activity continued to witness weak performance in terms of both deal values and volumes compared to the year-ago period.[br][br]
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