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Deal activity drops 3% to $5 billion in May

Mumbai: Total deal activity fell 3 percent to $5.023 billion in May from $5.192 billion in the previous month of April, a report said on Thursday.

Mergers and acquisitions fell 58 percent during the month to $1.05 billion from $2.526 billion in April, while a 49 percent increase in private equity deal value to $3.973 billion from $2.666 billion in April totaled number helped.

From a volume perspective, the total number fell by 22 percent to 137, said the report by consultancy firm Grant Thornton Bharat.

“The election process could have delayed the scenario of closing a deal. The election results and the new government’s resulting strategic direction will be critical in shaping the investment environment and determining future deal activity,” said partner Shanthi Vijetha.

The largest M&A deal in May was Google’s $350 million investment for a minority stake in Flipkart Online Services, followed by Manipal Health Enterprises’ majority acquisition of Medica Synergie for $169 million, the company said. On the private equity side, Brookfield India Real Estate Trust’s $723 million investment for a 50 percent stake in four assets of Bharti Enterprises was the largest deal, it added.