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NEW DELHI: Corporate India<\/a>'s boardrooms seem to have turned little quieter this year on dealmaking with the value of mergers and acquisitions (M&A) dipping to USD 20 billion, but experts foresee a bounce back in 2016.\n
\nThe value of deals has dipped more than 40 per cent from USD 33 billion clocked in the previous year 2014. Consultants and analysts are anticipating deals worth more than USD 30 billion in 2016.
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Experts believe that the much-needed impetus to M&A deal activity can come from the changes in the country's regulatory framework such as a new bankruptcy law, faster pace of approvals and the relaxed FDI norms<\/a> for many sectors, including multi-brand retail, telecom, insurance and defence.
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\nAccording to global consultancy major PwC, the M&A activity by value in 2015 stood at around USD 20 billion, as opposed to almost USD 33 billion in 2014.
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\nThe fall in deal value, can be attributed to lesser number of domestic deals, stretched corporate balance sheets and costlier foreign assets, largely due to a depreciating rupee.
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\nIn 2014, domestic deal volumes had gone up significantly at around USD 19 billion with a number of big ticket transactions such as Sun-Ranbaxy and Kotak Bank-ING Vysya deals among others, but the case was different this year as it saw only USD 7.3 billion of domestic M&A transactions.
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\nThough both inbound and outbound M&As witnessed an uptrend in 2015, they could not make up for the sharp fall in domestic deal activities.
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\nAccording to global deal tracking firm Mergermarket, technology firms attracted an unprecedented level of activity in 2015 with 80 deals compared to just 45 in 2014, and with the value increasing to USD 5.1 billion as against USD 5 billion.
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\nOther sectors that were highly active include transport and energy, mining and utilities.
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\nGoing ahead, the pipeline is looking strong for 2016.
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\n\"In 2015, inbound deals dominated the Indian M&A landscape with interest coming from US, German and Canadian bidders. As the country's economy shows slow but steady growth, this trend is likely to continue as companies seek growth in one of the largest and fastest growing Asian-Pacific markets,\" according to Kirsty Wilson, Global Research Editor and Anjali Piramal, Global Head of Content Development at Mergermarket.
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\nSectorwise, energy deals are likely to continue with large companies like Finland-based Fortum looking to reinvest in higher-risk energy markets after a series of divestments.
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\nFinancial services is a sector which has been seeing some momentum, especially in insurance and micro-finance. This is likely to continue next year, as per Mergermarket.
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\nAccording to Vikram Hosangady - Partner and Head, Deal Advisory at KPMG in India, \"The 20-month old government has undertaken several initiatives to make India an attractive investment destination with the Prime Minister having travelled to several countries garnering interest among foreign investors.
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\nThe 'Make in India' initiative that seeks to convert India into a global manufacturing hub has gained significant visibility among overseas investors.\"
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\nMoreover, the measures announced by the Reserve Bank for building up currency reserves and curtailing inflation did play a key role in helping the country tide through the external uncertainties, Hosangady added.
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\nEchoing similar sentiments, PwC India Partner & Leader - Private Equity and Transaction Services, Sanjeev Krishan said M&A numbers are expected to be much better in 2016.
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\n\"I believe that regulation changes like new bankruptcy law will drive another wave of domestic consolidation in the Indian market. Likewise as the Government continues to focus on creating a facilitating business environment, inbound investors are expected to start looking at India positively and this should help.\"
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\nKrishan believes outbound M&A pickup may take a little longer, but on an overall basis he was \"very positive that overall M&A activity in 2016 would be near the 2014 levels.\"
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\nSectorwise, infrastructure, e-commerce, pharmaceutical, healthcare and technology are key sectors that will gain the attention of investors.
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\nWith regard to inbound deal activities, the investors will most likely hail from the US, UK and Japan as they have both the deal appetite and capacity to take advantage of India's huge growth potential, experts said.
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\n\"With inflation in control and GDP growth being revised to now end higher than anticipated, all the necessary ingredients seem to be in place for growth in deal activity as well,\" Grant Thornton India LLP partner Prashant Mehra said.
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\nMehra further added that the recent FDI norms and the much awaited GST will perhaps be a game changer and will further accelerate the deal activity from an inbound investment, domestic M&A and PE perspective.\n\n<\/body>","next_sibling":[{"msid":50330321,"title":"Cannot afford STBs right now: Lower middle class","entity_type":"ARTICLE","link":"\/news\/cannot-afford-stbs-right-now-lower-middle-class\/50330321","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":50330342,"entity_type":"ARTICLE","title":"India Inc seals $20-billion M&As in 2015; eyes $30-billion for 2016","synopsis":"Corporate India's boardrooms seem to have turned little quieter this year on deal-making with the value of M&As dipping to $20 billion.","titleseo":"telecomnews\/india-inc-seals-20-billion-mas-in-2015-eyes-30-billion-for-2016","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2015-12-26 09:54:17","lastupd":"2015-12-26 09:56:22","breadcrumbTags":["industry","India Inc","Corporate India","FDI norms","India Inc's M&A","2015 M&A"],"secinfo":{"seolocation":"telecomnews\/india-inc-seals-20-billion-mas-in-2015-eyes-30-billion-for-2016"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2015-12-26" data-index="article_1">
新德里消息:印度企业的董事会似乎已经变成了小安静今年交易价值的合并和收购(并购)降至200亿美元,但专家预测2016年的反弹。交易的价值已下跌逾40%从上一年的330亿美元达到2014。顾问和分析师预测2016年交易价值超过300亿美元。
专家认为,急需推动并购交易活动可以来自国家的监管框架的变化如新的破产法,审批速度和放松外国直接投资准则许多行业,包括多品牌零售、电信、保险和国防。
根据全球咨询公司普华永道,并购活动的价值在2015年站在200亿美元左右,几乎与330亿年的2014美元。
的交易价值,可以归因于较小数量的国内交易,企业资产负债表,昂贵的外国资产,很大程度上是由于卢比贬值。
2014年,国内交易量大幅上升约190亿美元的高价交易如Sun-Ranbaxy和科塔克银行ing Vysya交易等,但是今年的情况是不同的,因为它只看到国内并购交易的73亿美元。
虽然入站和出站并购目睹了2015年上升趋势,他们无法弥补国内交易的活动。
根据全球交易追踪机构,《科技公司吸引了空前的交易活动在2015年与80年相比,2014年的45,和值增加到51亿美元和50亿美元。
高度活跃的其他领域包括交通和能源、矿业和公用事业。
前,管道是2016年强大的寻找。
“2015年,内向型交易占据了印度的并购利益来自美国,德国和加拿大的投标人。随着中国经济显示了缓慢但稳步增长,这一趋势可能会继续为企业寻求发展的一个最大和增长最快的亚太市场,”蒂•威尔逊表示,全球研究编辑和Anjali皮拉马尔,全球案例内容开发主管。
Sectorwise,能源交易很可能继续与芬兰Fortum等大公司希望在高风险投资一系列资产剥离后能源市场。
金融服务部门,已经看到了一些动力,特别是在保险和小额信贷。这是可能在明年继续,因为每案例。
根据Vikram Hosangady——合伙人及交易咨询毕马威(KPMG)在印度,“20个月政府已经采取一些措施使印度与总理有一个有吸引力的投资目的地前往一些国家获得外国投资者的兴趣。
在印度的倡议,旨在把印度变成全球制造业中心获得了重大海外投资者之间的可见性。”
此外,央行宣布的措施,建立外汇储备,减少通货膨胀并发挥关键作用在帮助这个国家通过外部不确定性,潮Hosangady补充道。
重复类似的情绪,普华永道印度伙伴&领袖——私人股本和交易服务,(Sanjeev Krishan说并购数字在2016年预计将更好。
“我相信监管变化如新破产法将推动国内整合在印度市场的另一波。同样随着政府继续专注于创造一个促进业务环境中,入站积极投资者预计将开始看印度,这应该帮助。”
Krishan认为海外并购可能会花一点时间,但是在整体的基础上他是“非常积极的整体并购活动在2016年将接近2014年的水平。”
Sectorwise、基础设施、电子商务、制药、医疗保健和技术是关键的行业将获得投资者的注意。
对于入站交易活动,投资者很可能来自美国、英国和日本,因为他们都交易意愿和能力利用印度的巨大的增长潜力,专家说。
”控制的通货膨胀和GDP增长现在被修正后的最终高于预期,所有必要的成分似乎在增长的交易活动,“均富印度LLP)合伙人Prashant用说。
用进一步补充说,最近的FDI规范和备受期待的销售税也许会改变游戏规则,将进一步加快交易活动从入站投资,国内并购和体育的视角。
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