Ambit Finance announces Tie-up

Mumbai, Dec 18 (UNI) Ambit Corporate Finance, an independent investment bank, has announced its tie-up of co-operation with Societe Generale Corporate and Investment Banking to offer advisory services to their respective European and Indian clients in the field of cross border Merger and Accquisition (M &A) transactions.

Societe Generale Corporate and Investment Banking had acted as advisor in many significant cross border transactions, such as acquisition of Arcelor by Laxmi Mittal.

Addressing a press conference here, Mr Ashok Wadhwa, CEO of Ambit Corporate Finance, said the co-operation agreement sets a principle of exclusivity for cross border M&A transactions between Europe and India and defines a framework of joint marketing efforts and execution of assignments between the two partners.

Speaking about the sectors in India which European companies would be interested in, Mr Wadhwa said consolidation of IT services, logistics and transportation, Auto components and engineering, Media, Energy, Banking and Financial services, infrastructure and real estate were some of the prime areas.

The partnership will enable Societe Generale Corporate and Investment Banking to propose accquisition opportunities to its Indian client base, together with advisory services to assist in the negotiations 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, the partnership with Societe Generale Corporate and Investment Banking will provide Ambit with a platform to identify, introduce and execute transactions for its clients in the European Market.

Mr Wadhwa said M&A transactions and strategic partnerships would help companies to penetrate into new markets and also provide new opportunities for Ambit as well as the Societe Generale Corporate and Investment Banking to add value to each other. The co-operation agreement can be then expanded to newer opportunities like acquistions, he added.

UNI