Following a record year for Indian M&A and capital markets transactions, India Business law Journal is proud to reveal its 2007 Deals of the Year and the lawyers who guided them to fruition
Chris Crowe reports
The year 2007 has been one of immense corporate achievement for India, not just in relation to the value and number of deals, but also to their structuring, complexity and international scope.
Indian companies are now responsible for many of the world’s most eye-catching international M&A transactions. The steel sector, for example, has been transformed by Mittal and Tata Steel’s hunger for global eminence while in the very different realm of beverages and hospitality, United Spirits’ acquisition of Whyte & Mackay showcased the role of multifaceted financial structures, in this particular instance leveraged finance arranged in two separate facilities.
Indian businesses are now able to raise significant capital on domestic stock exchanges. The Bombay Stock Exchange (BSE) 30-share Sensex hit 20,000 for the first time in October 2007, an astonishing increase from just 8,700 in May 2006. It means that, save for the rare overseas listing, Indian corporates are racing each other to launch offerings at home.
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