An absence of multi-billion dollar deals meant merger and acquisition (M&A) activity didn’t sizzle like private investments that hit a record high this year.
However, M&A dealmakers saw hectic activity with the number of deals spiking to 934, the highest ever, according to provisional data from VCCEdge, the data research platform of VCCircle.
Here are the top M&A deals for the year:
A slump in oil prices due to oversupply and a slowing world economy didn’t stop state-run Oil & Natural Gas Corp from making one of the biggest transactions in the oil exploration field this year. The company’s overseas arm, ONGC Videsh Ltd, in September acquired a 15 per cent stake in largest Russian oil producer Rosneft's Vankor oil field in Siberia for $1.26 billion. The Vankor oil and gas condensate field is Russia's second biggest.
In the second-largest M&A transaction this year, NYSE-listed American Tower Corporation (ATC) inked a deal to buy a 51 per cent stake in PE-backed telecom tower firm Viom Networks Ltd for Rs 7,635 crore ($1.2 billion) in cash. The deal saw some PE backers including IDFC Alternatives part-exiting the enterprise with SREI Group selling its entire shareholding and Tata Teleservices Ltd also paring its stake. ATC would pip Indus Towers to become the world's largest tower firm by number of communication sites on completion of this deal.