Management'India second most targeted BRIC nation for M&A deals'
India has emerged as the second most targeted nation among the BRIC region, after China, for merger and acquisitions activities clocking deals worth $2.8 billion so far this year.
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"China targeted M&A volume stood at $8.3 billion, is the highest among the BRIC (Brazil, Russia, India, China) nations in 2010 YTD, followed by India with $2.8 billion," according to global deal tracking firm Dealogic.
While the India-targeted M&A deals so far in 2010 grew by 43 per cent from $1.98 billion in the year-ago period, China targeted volume rose 88 per cent to $8.3 billion.
So far in 2010, the BRIC targeted M&A volume has reached $12.7 billion, up 42 per cent compared with 2009 year-to-date (YTD). The BRIC M&A volume accounts for 10 per cent of global M&A volume in 2010 YTD, the report said.
It added that the top five BRIC deals in 2010 YTD, involve Chinese and Indian targets and account for 47 per cent of the total BRIC volume.
While Brazil targeted M&A deals stood at $851 million YTD, down from $2.1 billion in the year-ago period, the same for Russian Federation nearly doubled to $774 million.
According to Dealogic the announced cross-border acquisition of China"s Orient Overseas Development by Singapore-listed CapitaLand, via its subsidiary CapitaLand China (RE) Holdings, is the largest deal in 2010 YTD.