|
A
MOTLEY COLLECTION OF BUSINESS AND ECONOMIC NEWS |
|
|
 Investment banking on a roll
With mergers and acquisitions topping $26 billion so far in 2006, investment bankers, who charge at least 1.5 per cent of the deal size as fees, have earned upwards of $390 million (Rs 1,755 crore) during the period. If the trend continues, the bankers will earn far more than the $435 million (Rs 1,957 crore) they are estimated to have made last year from closing M&A deals worth $29 billion.
“The growth is phenomenal. M&As are at least 40 per cent more than last year,” said Ernst & Young National Director (transaction advisory services) Jayesh Desai. “Companies are now willing to pay you for services; earlier, they were reluctant,” he added. Desai expects private equity deals to cross $7 billion this year, up sharply from $2 billion last year. Investment bankers said up to 40 per cent of their earnings now came from overseas acquisitions by Indian companies.
|
|
|
 Videocon buys Daewoo Electronics for US$ 700 million
Videocon says a consortium led by it has reached an agreement to acquire South Korea’s debt-burdened Daewoo Electronics for Rs 3,150 crore. The agreement was signed on October 20 by a consortium led by Videocon and creditors of the troubled South Korean firm, which was earlier part of the Daewoo Group that wound up in 1999 after running up a debt of about $80 billion.
“A Videocon-led consortium has entered into an agreement for acquiring Daewoo (Electronics) at $700 million,” a company official confirmed. Videocon and US-based equity fund Ripplewood had jointly bid for Daewoo Electronics, after it was put on the block by its lenders.
The deal will mark Videocon’s third purchase in the last one year after Thompson’s global picture tube business for Rs 1,260 crore and loss making Indian subsidiary of AB Electrolux, Sweden.
|
|
|
 India ranks second in marine product output
India has emerged as the world’s second largest producer of farmed fish (aquaculture) but its total production is merely 1/20th of that of China which holds the number one position. India’s share in the global aquaculture output is 4.2 per cent in terms of both volume and value. The share of China, on the other hand, is 69.6 per cent in terms of production and 51.2 per cent in value.
According to the State of the World Aquaculture: 2006 report compiled by the UN. Food and Agriculture Organisation (FAO), nine of the world’s 10 largest aquaculture producing countries are in Asia. Chile, in the tenth place, is the only country outside this region to have made it to the top ten.
The five countries, in terms of ranking, are China, India, the Philippines, Indonesia and Japan.
|
|
more... |
|
|
|
|
December 2006
|
|
|
|
|
|
