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France's Societe Generale Corporate & Investment Banking (SGCIB) and India's Ambit has signed a cooperation agreement for cross border M&A advisory work between India and Europe. They will offer advisory services to their respective European and Indian clients in the field of cross border M&A transactions.
The agreement sets a principle of exclusivity for both the parties and offers a framework of joint marketing efforts and execution of assignments between the two partners, a release said. It will enable SGICB to propose acquisition opportunities to its Indian client base, together with advisory services to assist in the negotiation and structuring of the transaction. It will also give the bank the opportunity to become Ambit’s partner of choice for European transactions. In turn, Ambit will be able to identify, introduce and execute transactions for its clients in the European market
Ambit, founded in 1997 by Ashok Wadhwa and others, employs a team of over 30 professionals across Mumbai and Delhi dedicated to M&A. Its recent deals include the Viacom's joint venture with TV18, the Heidelberg acquisition of Mysore Cement, and the merger of Indian Airlines with Air India. Ambit also has a partnership with Nikko Asset Management of Japan for asset management business in India. The firm also has a PE arm called Ambit Pragma Ventures and a three-way joint venture with TV18 and Centurion Bank for broking business.
SGCIB has done several cross border transactions such as the acquisition of Arcelor by Mittal, and the merger between Euronext and The New York Stock Exchange, to name a few.