Mumbai-based investment banking firm Singhi Advisors has picked up 15 per cent equity stake in the UK-based global investment banking network Mergers Alliance, becoming the lone domestic merchant banker to have an exclusive membership in the group, as per a report by news agency PTI, citing the company’s chief Mahesh Singhi.
Financial details of the deal, however, remain undisclosed.
The deal is a part of the Indian boutique investment banker's efforts to augment its presence across the globe.
Singhi Advisors has been a member of Mergers Alliance -- an international network of independent investment banking and corporate finance advisors involved in mid-market deals -- since 2007. Following the stake acquisition, it has now become an equal partner in the group, along with its five other founding partners.
Mergers Alliance was initially promoted by four investment banking outfits from Germany, Spain, Britain and Italy. However, it now has total six partners with Russia and India becoming the new partners from this year.
Last year, the UK-based group had closed 90 transactions worth €5 billion and was ranked at the 16th position in the global M&A league table prepared by Thomson Reuters. Other such global alliances include M&A International and IMAP; India's o3 Capital and SBI are members of IMAP.
(Edited by Joby Puthuparampil Johnson)