Tata Spent $133 Million On M&A Advisory Bills In Two Years
Large, global investment banks have cornered most of this advisory fee from India’s Tata Group. Here is the stunning statistic. The Tata group, India’s largest global acquirer, has spent more than Rs 500 crore or $133 million in advisory fee to intermeduaries and investment banks in the last two years.
The Mumbai based group has acquired as many as 56 businesses with a total value of $20.6 billion since 2006, according to a report by Dealogic. The group has made a total of 106 acquisitions valued at $24.2 billion since 2002. Most of the group’s M&A activities targeted firms abroad.
Among the significant deals include the recent acquisition of Jaguar Cars and Land Rover for $2.3 billion which followed Tata Steel’s acquisition of Anglo-Dutch steel maker Corus for $12.1 billion last year. The latter remains the largest overseas takeover by an Indian company ever. There are no details on which bank cornered most of the advisory money. As for the Corus deal, Credit Suisse was the lead financing bank, while joined by ABN AMRO and Deutsche Bank in the consortium.
