Adani's Holcim Acquisition Doubled Corporate Sector's Deal Value In May: Report
NDTV
India Inc's deal value more than doubled to $19.1 billion across 190 transactions in May 2022, helped by acquisition of Holcim by Adani Group
India Inc's deal value more than doubled to $19.1 billion across 190 transactions in May 2022, mainly helped by the $10.5-billion acquisition of global cement major Holcim by Adani Group, a report said on Monday.
The overall deal activity - which includes mergers and acquisitions, private equity landscape and public market activity like IPOs - stood at $7.965 billion a year ago, the report by consultancy firm Grant Thornton Bharat said.
However, when compared to April, the overall activity by value was down 59 per cent because the month recorded the $40 billion merger between HDFC Bank and HDFC, the report said.
Apart from the Adani's buy of ACC and Ambuja Cements from Holcim, May 2022 also witnessed a $2 billion investment in Viacom18 by Reliance and Bodhi Tree, the report said, adding that there were 13 other high-value deals of over $100 million aggregating to $5.1 billion during the month.
