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BT-Ernst and Young deal watch

Biggest deals in the past 30 days as on August 30, 2010.

     Print Edition: October 3, 2010

Reliance Industries Ltd (RIL) continues its ambitious foray into shale gas exploration. RIL subsidiary Reliance Marcellus II LLC has now inked a joint venture with US-based Carrizo Oil & Gas. It will acquire a 60 per cent stake in the Marcellus Shale Acreage in central and north-east Pennsylvania for Rs 1,805 crore ($392 million). This is the third shale gas acquisition by RIL in the US since April 2010.

This deal will give RIL access to approximately 62,600 acres of undeveloped leasehold in the core area of Marcellus Shale, with an expected resource potential of two trillion cubic feet equivalent. RIL is also likely to acquire advanced technological capabilities for operating these assets and leverage these skills to capitalise on the potential of shale gas exploration in India.



TARGETACQUIRERINDUSTRYTYPEDEAL VALUE (Rs crore)STAKE (%)
Marcellus Shale Natural Gas AcreageReliance IndustriesOil & GasAcquisition1,80560
Viom NetworksMacquarie SBI Infrastructure FundTelecomPrivate Equity1,40011
Moser Baer ProjectsBlackstone GroupInfrastructurePrivate Equity1,350NA
Religare EnterprisesRHC FinanceFinancial ServicesPrivate Equity1,27720
Lodha DevelopersHDFC Venture FundsReal Estate, Hospitality and ConstructionPrivate Equity50010
Nandi Infrastructure Corridor EnterpriseJP Morgan Private Equity FundInfrastructurePrivate Equity50010
Sadbhav Infrastructure ProjectsNorwest Venture Partners, The Xander GroupInfrastructurePrivate Equity400NA
Telecom SeychellesBharti AirtelTelecomAcquisition290100
Ernst & Young is a leading M&A advisor in India. The data is based on media reports and company announcements. Any decision on the basis of this information should be taken only after professional advice. Business Today or E&Y do not undertake any responsibility with regard to any such decision. As on August 30, 2010. Not a complete list.

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