News Corp VCCircle Mergers & Acquisitions Summit 2017
Are We A Mergers Over Acquisitions Market?
After the rollercoaster ride of 2016 that threw up bumps such as Brexit, Donald Trump’s victory in the US elections and Narendra Modi government’s demonetization drive, the year 2017 began with a big bang with two of the largest telecom companies in India joining hands for one of the largest and most strategic M&A deals in the recent years. Vodafone Group’s merger of Vodafone India with Idea Cellular kicked off the M&A activity in the first quarter that saw inbound deals going up 49% in comparison with the same period last year. The trend, indeed, boosts investor confidence in India as an M&A destination. The prominent sectors, this year so far, have been telecommunications, electronic components, pharmaceuticals, auto-parts and equipment.
Unlike last year where M&A exits superseded Open Market exits, the beginning of 2017 saw an opposite trend.
Moving beyond the headlines, the overarching drift of M&A activity in the recent past has been more about 'mergers' than 'acquisitions'. Year 2016 saw several Indian companies consolidating to add resources, build scale, stabilize and reduce the number of players fighting for the same share of pie as against overseas acquisitions, which haven’t seen much success. With the abolishment of FIPB, Indian government has signaled it will welcome foreign investors with open arms facilitating opportunities for growth and consolidation. In the coming months, as the government rolls out GST and there is more clarity on FDI regulation, not to forget our resilient economy and buoyant capital markets, the rest of 2017 seems promising for investors.
In the wake of this positivity, News Corp VCCircle is presenting its second edition of Mergers & Acquisitions Summit in July 2017, bringing together Corporates, Strategic Acquirers, Private Equity funds, Buyout & Stressed Assets Experts, Legal, tax & Due-Diligence experts under one roof to decode the M&A outlook for 2017 and delve on what it holds in store for businesses, investors and industry in general.
Key topics for discussion:
• Consolidation at the Top Tier: What it means for Old & New Economy Businesses across sectors.
• A patchy record of overseas acquisitions: Is string of pearls M&A strategy a better move?
• Valuations menace: Many large MNCs are selling off their businesses in India and not pursuing any aggressive inorganic expansion. Is valuation to blame for the trend?
• Strategic M&A vs PE buyouts: What would you pick?
Block your calendar for News Corp VCCircle’s yet again marquee conference defining M&A trends for 2017. Send in your interest at firstname.lastname@example.org
09.00am - 09.45am
Registrations & Networking
10.00am - 10.50am
Inaugural Panel: Are We a Mergers Over Acquisitions Market?
Merger & Acquisition activity in India perked up in the year 2016 thanks to a few multi-billion-dollar deals that companies struck either to slash debt or consolidate their market share. The number of M&A deals remained robust with 1,002 deals, with the corresponding deal value of $61.4 billion, hitting a five year high – a jump of 2.6 times in value from 2015. The largest M&A deals of 2016 were the acquisition of Essar Oil Ltd by Rosneft, Max Life Insurance Co. Ltd by HDFC Standard Life Insurance Co. Reliance & Aircel announcing the merger of their telecom business for $7.3 billion.
Trends indicate that the deal making in recent past has been more about 'mergers' than acquisitions. Deals such as HDFC Life and Max Life, Videocon d2h & Dish TV, Vodafone & Idea indicate companies consolidating to add resources, build scale, stabilize and reduce the number of players fighting for the same share of pie.
• What does this mean for the deal making in 2017?
• How will it impact the market leaders in core sectors?
• What does this consolidation mean for old & new economy businesses?
• How are regulatory reforms enabling these fast-track mergers?
10.50am – 11.05am
11.05am – 12.00pm
Panel: A patchy record of overseas acquisitions: Is string of pearls M&A strategy a better move?
India’s business czars who made some of the biggest acquisitions in the last decade saw sacrificing their share of money invested in the foreign assets due to lack of business synergies and post integration challenges. But the recent trends suggest a stronger demand for domestic mergers resulting in consolidation within the respective industry. Havell’s acquisition of Lloyds’ in their consumer durables business, which promises double digit growth due to increased urbanization is a recent example reinstating our faith in consolidation among domestic players joining forces to serve the aspirational and expanding middle class. Can the string of pearls strategy support growth while increasing strategic agility and responsiveness to this unpredictable global environment? One and done strategy Vs String of pearls strategy is this the difference in approach between the Old and the New Economy?
While viewing inorganic growth as a portfolio of activities what are the things that organizations have in their mind today?
12.00pm - 12.20pm
This session brings you an in-depth analysis of sectoral views on M&A activity for year 2017. We bring in the leading M&A experts to give you a view point on the sectors they believe will be movers and shakers for M&A trend in India. Sectors to be covered include:
• Information Technology: Social, mobile, analytics and cloud (SMAC)
12.10pm – 01.10 pm
Panel Discussion 3: Managing Human Resources during M&A
In the process of M&A, with all of the legal and financial issues to deal with, human resources are sometimes ignored, leading to decrease morale, productivity and exodus of key talent. Further, the new corporate entity is faced with challenges such as assuring current employees of the reason for M&A, integrating the corporate culture, avoiding duplicity in roles and functions and making exits easy and fair. This discussion will have some leading HR personnel narrating how to go about difficult aspect of acquiring, retaining and letting employees go.
01.10pm – 02.10pm
02.10pm – 02.40pm
• Infrastructure: Renewable Energy, Roads & Highways
02.40pm - 03.10pm
• Healthcare: Pharma & Life Sciences
03.10 – 03.45
Fireside Chat: Strategic M&A vs. PE buyouts
With the tables turned in the favour of PE firms in a deal making process, how are they able
to achieve higher synergies compared to strategic buyers who understand the industry better? PEs are showing a preference for control deals as they believe they have the operational experience to show higher returns and guide outcomes though their implementation strategy and then exit. While India has been a minority growth market, PEs see this as a window of opportunity as the corporate world is over leveraged and promoters pare stakes in the company to cut their debts. What are the advantages that PE firms bring during an investment process allowing them to win competitive auctions over strategic buyers? How do we this emerging in 2017 with the current situation of stressed assets?
03.45pm - 04.10pm
• Financial Services: Banking & Insurance
04.10pm – 04.20pm
04.20pm – 05.10pm
Panel 4: Due Diligence in M&A: Essentials for successful M&A
Due Diligence is not mandatory, however, it is a very essential procedure for a corporation and when suitably conducted, it attaches a high degree of fairness to the whole transaction and this also leads to a significant reduction in the risks associated. There are two sides to due diligence procedure, while the financial and legal due diligence ascertains the potential value of a deal; strategic due diligence explores whether that potential is realistic and deal commercially attractive. This panel will discuss all facets of due diligence and what precautions or questions to ask before considering M&A transaction.
Date: July 31, 2017
Venue: Four Seasons Hotel, Mumbai
Lakshmikumaran & Sridharan (L&S) is a full service Indian law firm offering advisory, litigation and compliance services in direct, indirect and international taxation, intellectual property laws, international trade / WTO law and corporate & commercial matters including competition and environmental laws. Founded by V. Lakshmikumaran and V. Sridharan in 1985, the firm serves clients globally, through its 47 Partners and 350+ professionals. The firm is well-known for its high ethical standards, quality work and transparency in all its business dealings. L&S’s corporate clientele comprises of large business houses, multi-national corporations, banks and financial institutions including several Fortune 500 companies.
Indian Association of Alternative Investment Funds (IAAIF) is a not-for-profit industry representative and advocacy body of Alternative Investment Funds and other key stake holders of AIF industry in India. IAAIF has been recently formed by Association of International Wealth Management of India (AIWMI). Eighteen prominent fund houses (managing SEBI registered AIFs) and four service providers involved in Alternative Investment domain are already its members with many more are at on-boarding stage.
IAAIF is devoted to promote transparency, professional standards and trust in alternative investments. The Association acts as a platform for dialogue on regulatory and policy issues pertaining to AIFs and building linkages among various stake-holders. IAAIF is committed to create educational programs to enhance professional standards; create Thought Leadership and business networking opportunities for the investors and stake holders in the alternative investment sector.<
AIBI is a voluntary association of Investment Bankers in the country. It was formed in 1990’s at the initiative of Indian Capital Markets regulatory body, SEBI. All Merchant Bankers, registered with SEBI are eligible to be members of AIBI. AIBI is India’s only association representing the investment banking industry.
On January 21, 2012 the name of the Association was changed to “Association of Investment Bankers of India” to encompass all the activities carried out by the Investment Bankers other than Issue Management.
Currently, there are fifty three members of the association.
AIBI strives to be an objective Industry body with a credible action plan and balances its role as an industry body with its role of an influencer so that there is never any conflict of interest for the members. It ensure that its activities are not confined to selected few but are available and are beneficial to all members.
AIBI is represente
Mumbai Angels, started in 2006 is the first premium Angel network in India. The Mumbai Angels provides a unique platform to start up and very early stage companies by bringing them face to face with successful entrepreneurs, professionals and executives who are interested in and have the funds available to invest in start-up companies. Many members of Mumbai Angels have prior Silicon Valley experience. In addition to the capital of its members, the Mumbai Angels provides access to high quality mentoring, vast networks in India and abroad and inputs on strategy as well as execution.
Mumbai Angels provides its portfolio companies with a level of assistance that surpasses their highest expectations. Mumbai Angels network of relationships and their ability to leverage those relationships on behalf of their portfolio companies is unparalleled. Mumbai Angles members and their organisations have come to represent the ideal business partner for entrepreneurs who wish to start and
IBGRID is an upcoming network of investment bankers and mid-size businesses. IBGRID is an extended network of IndiaBizForSale.com, which is the most preferred network to buy, sell, fund and grow small businesses in India.
IndiaBizForSale.com is an Enabling platform for Mergers & Acquisitions, Investment Opportunities and Business Partnerships for small businesses in India. It boasts of thousands of active opportunities across India with number of successful transactions.
IndiaBizForSale.com connects businesses with capital, acquirers, partners, advisors. Currently, more than 20,000 professionals from India and abroad use IndiaBizForSale.com to identify connect and close small to medium sized M&A and Fund raise transactions from India.
The platform enables business transactions during start, growth and exit stages of the business life cycle such as:
• Entrepreneurs looking to exit or raise funds via equity.
INR 10000 + 18% GST per attendee
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