Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.

Note ban seen hurting consumer, retail deals

The government’s move to withdraw high-value currency notes is expected to hit mergers and acquisitions (M&A), particularly in consumer and retail sectors, over the next six to 12 months, according to investment bankers and analysts.

The sectors have already reported a steep fall in such transactions. Private equity (PE) and M&A deal value dropped to $608 million in 2016 from $4 billion in 2014 and $2 billion in 2015.

“In the short term, there is a 30%-50% drop in revenue in the affected months (November and December), especially in discretionary spending as well as seasonal categories. This has impacted not only cash sales but also digital transactions because of the short-term uncertainty and resulting sentiments," said Samir Bahl, chief executive officer (investment banking), Anand Rathi Advisors Pvt. Ltd.

Discussions on deals between several regional consumer brands and PE or strategic investors have been stuck for the last 6-12 months. Read more

Investments worth $3 billion ripe for exits in healthcare sector: Investec

India’s healthcare sector will see investors looking to exit close to $3 billion of primary investments in the next two-three years through secondary sales and public market listings, said Investec, a global specialist banking group.

Its data shows that between FY12 and now, 233 healthcare companies have received a little more $4 billion in funding from private equity (PE) funds and strategic investors, making India’s healthcare sector one of the most sought after destinations for domestic and global investors.

While hospital chains remained the most invested segment, attracting close to $3 billion, other segments such as wellness, diagnostics, contract research organizations and sutures also attracted significant investor interest.

In terms of exits till date, investors have fully exited $61 million and partially exited $653 million worth of investments during this period, while $3.453 billion continues to remain invested, Investec data showed. Read more

Oilex bids looks to buy remaining 55% stake in India oilfield

Australian explorer Oilex has made a formal offer to acquire the remaining 55% equity stake in Cambay oil field in India from Gujarat State Petroleum Corporation.

If the bid made by the Australian company is accepted, the total holding of the AIM-listed Oilex will rise to 100% from the current 45%. The transaction is however subject to regulatory approval.

Oilex is the operator of Cambay and holds a pre-emptive right to bid before the stake is sold to a third party. Oilex said that it will consider its strategic options for Cambay in order to realise value for shareholders. Read more

DLF may split 40% stake sale in commercial property arm between GIC & Blackstone

India’s largest realty developer DLF Ltd’s promoters are considering to split the proposed 40% stake sale in the company’s rental commercial property arm between two contenders—US private equity firm Blackstone group and Singapore’s sovereign wealth fund GIC, Bloomberg reported citing sources.

If this happens, Blackstone and GIC are expected to acquire stake of 20% each in the rental arm—DLF Cyber City Developers. At present, billionaire KP Singh and his son own 40% stake in the company’s rental arm, while the rest is owned by DLF Ltd.

The promoter family is expected to fetch around ₹ 12,000 crore through the proposed sale of their stake in the rental arm, the paper said. However, both Blackstone and GIC are keen to acquire the entire 40% stake individually, it added. Read more

Mukesh Ambani joins hands with Jeff Bezos, Jack Ma for clean energy fund

Billionaire Mukesh Ambani, chairman and managing director of Reliance Industries Ltd (RIL), has joined hands with Jeff Bezos, Jack Ma and Bill Gates, among others, to set up Breakthrough Energy Ventures (BEV), a $1 billion fund to fight climate change through innovations in clean energy.

Bezos is the founder and CEO of Amazon.com, the world’s largest online retailer. Ma is the founder and executive chairman of Alibaba group with investments in Internet-based businesses and Gates is the co-founder of Microsoft.

BEV will collaborate with other investors, governments, research institutions and corporate partners, bringing to the table an investor-led fund with internal scientific expertise, a long-term horizon, and a tolerance and understanding of the investment risks required to transform energy markets. Read more

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