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The overall deal activities (covering mergers/private equity investments, stake sales) fell drastically to $1.6 billion in value terms across 95 deals in August, from $8.39 billion across 110 deals in July.
July saw some large deals such as Reliance-Jaypee, Diageo-United Spirits and PE deals, including an investment in Flipkart, according to Grant Thornton India’s Dealtracker report
Cross-border deals
While cross-border deals fell to $375 million during the month, compared with $3.2 billion a year ago, domestic deals rose to $742 million ($376 million).
Adani Power’s acquisition of Lanco Infratech Ltd’s 1,200 MW plant in Udupi, JSW Steel’s buyout of Welspun Maxsteel and Shree Cement’s acquisition of Jaiprakash Associates’ cement unit were among the highlights of the month.
On the private equity front, Tiger Global and Bharti Softbank Holdings’s investment of $65 million in Hike Technologies, Falcon Edge Capital and Rocket Internet’s investment of $60 million in Foodpanda and Metmin Investment’s acquisition of Avigo’s stake in Spykar Lifestyle stood out during the month.
At an overall level, deal numbers and values are up this year compared with the previous two years. This year, M&As will be much better compared with the previous two years, the report said.
The overall deal value during the month under review also fell compared with the year-ago period. The overall deals stood at $4.7 billion in August 2013.
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