Business Today

Deals Ahoy

     Print Edition: Jan 8, 2012

You had to be a reader of tea leaves in 2000 to predict a deluge of takeover deals in the decade ahead. But, the $450-million acquisition of Tetley in the UK in February 2000 by Tata Tea indeed set the stage for buyouts. Tata Tea's revenues, for historical context, were one-third of Tetley's.

"The deal was the single biggest catalyst for cross-border acquisitions in India and was certainly a harbinger of things to come," says Rana Kapoor, Managing Director and Chief Executive of YES Bank, who advised Tata Tea as CEO of Rabo India Finance, and arranged the debt for the buyout then. Between 2000 and 2010, Corporate India made an estimated $75 billion worth acquisitions, among them big-ticket ones like Novelis, Corus, Zain, and Jaguar-Land Rover.

By Anusha Subramanian, Anand Adhikari, K.R. Balasubramanyam, Rajiv Bhuva, Josey Puliyenthuruthel,G. Seetharaman and Sunny Sen

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