India: M & A Tracker - August 2015

Last Updated: 26 October 2015
Article by Zulfiqar Shivji

M & A in India

Since June 1, 2015, around 146 M&A deals were announced aggregating to approx. $4,216 million; dominated by domestic deals (97 deals) followed by cross border deals (49 deals). In terms of sectors, Industrials saw the maximum deal value with deals worth around $1,020 million, followed by Materials with $770 million.

For the same period, around 268 PE deals were announced valuing to approx. $3,834 million; dominated by Angel / Seed funding deals (128 deals) followed by Venture Capital funding deals (95 deals). In terms of sectors, Consumer Discretionary witnessed the maximum deal value worth $1,287 million followed by Financials with $760 million.

Deals Closed

No. Target Company Acquiring Company(ies) / Fund(s) Deal Value(in mn USD) Deal Highlights
1 OneWeb Ltd. Bharti Enterprises Ltd., Qualcomm Inc., Qualcomm Inc., Airbus S.A.S., Airbus S.A.S., Virgin Group, Hughes Network Systems LLC, Coca Cola Company, Intelsat S. A., Grupo Salinas 500.00
  • OneWeb Ltd., the UK-based company is engaged in building a communication network with an initial constellation of 648 low-earth orbit satellites that provide connectivity.
  • It has a patented mobile terminal which helps during connectivity challenges and sudden infrastructure crisis.
  • The company also provides in flight connectivity to business jet, commercial airlines and military aviation.
  • The investment by Bharti Enterprises' telecommunication arm Bharti Airtel will make it a preferred distributor of the service in India, Bangladesh, Sri Lanka and Africa, with a strong focus on rural markets.
  • It would act as an additional network connector in areas where the regular telecom tower is either not operational or down.
2 Valcambi S A Rajesh Exports Limited 400.00
  • Valcambi's services include transportation, reception, assaying, refining, manufacturing, financing and storage.
  • It was an all-cash transaction
  • This acquisition will add significantly to the revenues and profitability of the REL group in the coming years which will help expand the Global jewelry business.
  • Post the transaction, Valcambi S A operates as a subsidiary of Rajesh Exports Ltd.
3 SmartPlay Technologies India Pvt. Ltd. Aricent Inc. 172.34
  • Design services firm Aricent Inc. have acquired Bengaluru – India based semiconductor services firm SmartPlay Technologies India Pvt. Ltd.
  • SmartPlay has presence in India, Germany, Singapore and the USA.
  • The acquisition will expand Aricent's 10,000-strong engineering team, which caters to nine core industries including telecommunications, networking, consumer electronics, industrial automation, semiconductor, automotive, internet services, consumer and enterprise software and media and entertainment.
4 Prism TV Pvt. Ltd. Nickelodeon Asia Holdings Pvt. Ltd. 153.00
  • Prism TV Pvt. Ltd. is engaged in providing channel broadcasting.
  • It currently operates Colors Bangla, Colors Marathi, Colors Kannada, Colors Odia and Colors Gujarati.
  • The company was incorporated in 2008 and is based in Hyderabad, Andhra Pradesh.
  • The deal gives Nickelodeon Asia Holdings a significant presence in the fast growing regional TV sector in India, where almost 60% of the 1.2 billion people speak regional dialects as their first language.
5 Ind-Barath Energy Utkal Ltd. Macquarie Infrastructure and Real Assets 122.04
  • Ind-Barath Energy Utkal Ltd. is engaged in the business of generation, transmission, distribution and supplying of electric power.
  • Macquarie Infrastructure & Real Assets (MIRA) has invested $122.04 million in its Ind-Bharath Energy Utkal Ltd unit.
  • The deal has helped 3i Capital and PTC Financial Services exit the Company and raised money to develop a 700 MW thermal project in Orissa.
  • The company, as per the agreement, will sell 500 MW power out of the 700 MW to Tamil Nadu at Rs 4.91 per unit with a clause of passing higher fuel cost to customers, while the rest of the 200 MW will be available for merchant power business.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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