Mergers and Acquisitions
Successfully advised on some of the largest & most complex M&A transactions in India
Highlights
- Advised on some of the largest and most complex M&A transactions of every type in India.
- Consistently ranked high on the M&A advisory league tables. Ranked #4 in value of announced M&A Transactions in India (inbound + outbound) in CY 2009*
*Source: Bloomberg
Kotak Investment Banking has demonstrated its leadership in M&As by successfully advising on some of the largest and most complex M&A transactions of every type in India. The team has a wealth of experience and offers in-depth M&A advisory expertise and deal execution skills across a broad spectrum of products & services.
Kotak Investment Banking has significant experience in all types of M&A transactions including acquisitions, divestments, cross border transactions, restructuring advisory, buybacks, defence strategy advisory and open bidding.
To see a snapshot of our landmark M&A transactions, click here
Key Recent Deals
Some of Kotak Investment Banking recent deals are given below
Buy-side Transactions
- Tech Mahindra: In April 2009, Tech Mahindra acquired Satyam Computer Services for US$ 591 mn. Kotak provided the entire suite of services from advisory and financing to execution and open offer management
Sell-side Transactions
- Cipla: In 2010, exclusive financial advisor to Cipla for sale of all Intellectual property rights in India related to Cipla’s "i-pill" brand to Piramal Healthcare for an aggregate consideration of US$ 21 mn
- Nelco: In 2010, exclusive financial advisor to Nelco for sale of Traction Electronics, SCADA and Industrial Drives businesses, as a going concern, to Crompton Greaves for approximately US$ 20 million.
Restructuring Transactions
- DLF: In 2009, transaction advisor and independent valuer for the integration of promoter held Caraf Builders & Constructions Private Limited (along with DLF Assets Private Limited - DAL) with DLF Cyber City Limited, a wholly owned subsidiary of DLF
- Reliance: In March 2009, in the largest-ever M&A transaction in the history of corporate India, Kotak acted as transaction advisor for the amalgamation of Reliance Petroleum Limited with Reliance Industries Limited in a US$ 1752 mn deal
- Godrej Consumer Products Ltd: In 2009, transaction advisor and provider of fairness opinion for the consolidation of Godrej Group’s FMCG business into Godrej Consumer Products Ltd. Deal size worth US$ 160 mn
Cross-Border Transactions
- Tube Investments of India: In 2010, Tube Investments of India (TII), a Murugappa Group company, acquired 77% stake in Sedis, a leading European manufacturer of industrial and auto chains based out of France. Kotak Investment Banking was the exclusive financial advisor to TII
- Mahindra & Mahindra: In 2008, exclusive financial advisor to Mahindra & Mahindra for acquiring a 51% stake in China’s 3rd largest tractor company, Jiangsu Yueda Yancheng Tractor Manufacturing Co. Ltd
- CRH: In 2008, managed the entry of buildings materials major, CRH, into India by acquiring a 50% stake in My Home Industries for US$ 448 mn
Open Offers /Delisting Transactions
- Huber Group: In 2010, manager to the delisting offer for Micro Inks Limited, US$ 87 mn
- Tech Mahindra: In July 2009, Advised Tech Mahindra on its open offer for Satyam Computer Services in a deal worth US$ 240 mn
- Thomas Cook: In 2008, managed Thomas Cook’s open offer for Thomas Cook (India) Limited - US$ 80 mn
- Wilo SE: In 2008, exclusive financial advisor to Wilo SE for delisting of Mather and Platt Pumps Limited in a deal worth US$ 21 mn
Buyback Transactions
- Abbott Laboratories: In 3 separate years, Kotak Investment Banking conducted buyback of equity shares, to the tune of US$ 60 mn
Landmark Transactions
- Tube Investments of India (TII): Acquisition of 77% stake in Sedis by TII, a Murugappa Group company. Sedis is a leading European manufacturer of industrial and auto chains based out of France
- Zee: Zee Entertainment Enterprises Limited acquired 6 regional channels from Zee News Limited
- Tech Mahindra: Acquisition of control of Satyam Computer Services Limited by Tech Mahindra Limited through a competitive bidding process, US$ 591 mn
- Reliance Industries and Reliance Petroleum: Largest ever M&A transaction in the history of Corporate India, US$ 9,400 mn
- Mahindra & Mahindra: Acquisition of 51% stake by M&M in China’s 3rd largest tractor company
- CRH: Entry of building materials major, CRH, into India, US$ 825 mn
- Thomas Cook: Acquisition of upto 74.9% stake (including Open Offer) in Thomas Cook (India) Limited and 100% stake in Thomas Cook Egypt and Thomas Cook Lebanon, US$ 382 mn
- Wal-Mart: Entry of Wal-Mart into India and JV with Bharti Group
- SREI - BNP Paribas: Largest M&A transaction in the NBFC sector
- Bombay Stock Exchange: First and only demutualization of stock exchange in India, US$ 500 mn
- Anchor - Panasonic: Largest Japanese investment in India, US$ 480 mn
- Hutch - Vodafone: Largest telecom M&A transaction, US$ 10,829 mn
- Pioneer Investments – Bank of Baroda: Joint venture in Asset Management in India between Pioneer Investments and Bank of Baroda
- Mahindra: Consolidation of three overseas forging businesses into an India-listed entity - creating the second largest forging entity in India, US$ 470 mn
- CRISIL: Largest successful conditional tender offer by an MNC, US$ 53 mn
- Reliance ADA Group: Corporate advisory on capital structuring and consequent preferential issue in Reliance Capital and Reliance Natural Resources Ltd, US$ 1,370 mn
