India's corporate honchos spent a considerable time and energy this year at deal tables and executed over thousand transactions involving sale or purchase of equity stakes in their companies. On an average, every single day of 2007 saw about three deals being announced. This included a total of 1,047 merger and acquisitions as well as private equity deals for a total value of $68.32 billion (about Rs 2,75,000 crore).
SBI is keen on big overseas acquisitions that will give it a 'strategic fit' along with new products and access to cheaper capital. SBI is not keen on small foreign banks worth a few millions, chairman O P Bhatt said.
Banking is all about leveraging, the ICICI boss said.
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