BT-Ernst and Young Deal Watch
After scrapping the non-compete agreement with his brother Anil, Mukesh Ambani wasted no time in re-entering telecom. Ambani's flagship Reliance Industries Ltd (RIL) acquired a 95 per cent stake in Infotel Broadband Services Ltd for Rs 4,800 crore.
Infotel is the only pan-India winner in all the 22 circles for which broadband wireless access (BWA) spectrum was auctioned by the government. RIL plans to earmark additional capital for paying Infotel's spectrum fees and for the roll-out of its services.
Media baron Kalanithi Maran made heads turn by unveiling plans to acquire a majority stake in India's second-largest low cost airline, SpiceJet. The deal marks Maran's entry into the growing Indian aviation sector. Maran will acquire a 38 per cent stake in SpiceJet initially and subsequently make a mandatory open offer to acquire 20 per cent more.
| TARGET | ACQUIRER | INDUSTRY | TYPE | DEAL VALUE (Rs crore) | STAKE (%) |
| Reliance Natural Resources | Reliance Power | Energy | Merger | 6,631 | 100 |
| Infotel Broadband Services | Reliance Industries | Technology | Acquisition | 4,800 | 95 |
| Kotak Mahindra Bank | Sumitomo Mitsui Financial Group | Financial services | Investment | 1,370 | 5 |
| Eagle Ford Shale | Reliance Industries | Oil and gas | Investment | 1,237 | 45 |
| SpiceJet | KAL Airways and private investor | Infrastructure | Acquisition | 740 | 38 |
| SpiceJet | KAL Airways and private investor | Infrastructure | Open offer | 554 | 20 |
| Metropolis Healthcare | Warburg Pincus | Health care | Private equity | 395 | NA |
| Maytas Infra | Saudi Binladin Group | Infrastructure | Investment | 305 | 21 |
| Monnet Power | Blackstone Group | Infrastructure | Private equity | 275 | 13 |
| Kyunghan Industry | Nakoda | Textiles | Acquisition | 186 | 100 |
| Eastern Condiments | McCormick | Retail and consumer products | Investment | 163 | 26 |
| Ernst & Young is a leading M&A advisor in India. The data is based on media reports and company announcements. Any decision on the basis of this information should be taken only after professional advice. Business Today or E&Y do not undertake any responsibility with regard to any such decision. Tis list as on July 5, 2010. his is not a complete list. | |||||
