Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: form 3cd :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: due date for vat payment
Mergers and Acquisitions »
 The 12 digital health mergers and acquisitions of Q1 2017
  Deals of the day-Mergers and acquisitions Apr 19, 2017
 Deals of the day-Mergers and acquisitions Apr 19, 2017
 Foreign investors giving M&A deals in India’s renewable energy sector a miss
 Mergers and acquisitions are getting riskier as insurance claims rise
 The Financial Times started a mergers and acquisitions newsletter for its highest-paying subscribers
 Milton Barbarosh Offering Assistance on Mergers & Acquisitions
 Deals of the day-Mergers and acquisitions 15 April 2017
 Traders say mergers and acquisitions could bring boost to biotech stocks
 Accounting a new disruptor in mergers and acquisition strategies
 Bridging the Valuation Gap in Mergers and Acquisitions

Bhel drafts aggressive M&A strategy
December, 14th 2009

After its setback in the global acquisition race in the last few years, Bharat Heavy Electricals Ltd (Bhel) has once again set off on the road to acquire firms overseas. This time, the company is armed with a long-term focus on the M&A space by initiating the process of appointing a panel of advisors for an initial phase of two years.

By appointing a long-term panel of advisors, the company seeks to avoid any delay in bidding for an M&A target. Bhel is also trying to get enough time for the due diligence process in order to present a proper bid for the target firm. The move is a first in the countrys public sector. Till now, every public sector enterprise (PSE) appoints advisors as and when an opportunity for an M&A comes up.

It takes a long time to plan mergers and acquisitions as being a public sector firm, we are expected to carry out the entire process through a transparent mechanism of floating tenders. If we appoint advisors for a long term, they will look out for viable opportunities all the time and will quickly inform us. The consultants will also conduct due diligence before making a bid, Bhel executive director S T H Rizvi told FE.

Earlier this year, the company failed in acquiring Czech power plant equipment-maker Skoda Power because its bid was around 10% lower than Doosan Heavy Industries and Construction, which finally bought the firm. We pursued Skoda Power for a year, but the final bid was lower by around 10% of the winning bid, Rizvi said. Bhel has also been looking at Romanian and Chinese companies.

Bhel is looking at M&As to acquire updated manufacturing technology and global market access. We have enough manufacturing facilities to meet the present and future orders. What we want is better technology and markets. At present, we are working with foreign firms like Siemens for technology, but the non-compete clause does not allow us the market access. Now, we will hopefully get the technology and market access through M&As, another official of the company said on the condition of anonymity.

The company has floated a tender for appointing advisors in the field of finance, accounts, tax and law. As per the qualification conditions set by Bhel, the advisors should have experience of advising Indian firms on M&As for at least preceding three financial years, the Indian arm of the company should have successfully completed at least three cross border M&A deals of at least $50 million each in the last three fiscals and the company should have an independent presence in India, Europe and North America. The last date of submitting the proposals is December 21, 2009 and the bids will be opened on the same day.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions