New Delhi: India Inc’s deal making spree has witnessed significant traction till November with nearly 37% decline in merger and acquisition as well as private equity transactions in the country, a latest report said.
The M&A space has witnessed a slump of 37.09% till November end, while in the case of private equity it was 35.72%, according to the latest issue of global consultancy major Grant Thornton’s Deal Tracker.
“The total 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,” Grant Thornton added.
The report further highlighted that “total number of PE deals during the first 11 months of 2008 stood at 295, with an announced value of $10.11 billion as against 366 deals amounting to $15.73 billion during the corresponding period in 2007.
“We saw record levels of M&A in 2007 but 2008 has also been a good year for merger and acquisition inspite of the global turmoil and the financial crisis.
‘Indian M&As have touched $32 billion with 433 deals in the first 11 months which is a sign of maturity in the market,” Grant Thornton Transaction Advisory Services Partner Harish HV said.
For the month of November only there were 26 M&A deals with a total announced value of $3.40 billion. Meanwhile, as many as 21 PE transactions were announced during last month with an announced value of $449 million.