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India most targeted PE investment destination in Asia: Report

India most targeted PE investment destination in Asia: Report
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First Published: Fri, Apr 25 2008. 03 40 PM IST
Updated: Fri, Apr 25 2008. 03 40 PM IST
PTI
New Delhi: Merger and acquisition deals by private equity investors in the country have soared to a record $2.1 billion so far this year, making India the most targeted nation for such agreements in Asia, says a report.
Private equity mergers and acquisition volumes targeted towards India have grown to 2.1 billion dollars through 52 deals in 2008 so far compared to $893 million in the year-ago period, according to 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% of the buyouts in the region, followed by China (28%) and South Korea (21%)” the report stated.
Buyouts by private equity investors this year account for 15% of the total M&A deals in the country. This has increased four per cent from the same period last year.
The most significant PE deal in the country has been the $324 million buyout of 14% stake in Akruti City by Citi Venture Capital International and American International Group this year.
PE investments constitute 8% of the total global M&A volumes, while they account for 6% of the deals in the US so far this year.
The average size of the PE deals in 2008 so far has been $49 million dollars, against $27 million dollars last year.
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First Published: Fri, Apr 25 2008. 03 40 PM IST