Saturday, March 15, 2008

The Sun Also Sets : PE deals falling through

The chill is moving deeper down the spine. This HT article points out that southbound market is taking a lot of valuations and some of the deals with it. Down.
With 14 PE deals falling through in last 3 months & big 3 in last last month, Feb. PE deals are 55% lower then Jan'08.

The 3 big ones to go down are ICICI Venture-Jaypee Infratech deal, Rs 1200-crore Blackstone-Eenadu group deal and Rs 250-crore Future capital-DishTV deal. The Jaypee deal is shaved from 3200 to 1000 Cr.
PE funds closed over 27 deals in Feb. valued around $1.48 billion, according to a Grant Thornton study. India Inc recorded deals worth $5.06 billion in 116 M&A and PE deals in Jan.
Compared to Feb'07, there was a 50 % rise in PE deals this Feb.

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