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IMAP ACCELERATES FRENCH-INDIAN M&A DEALS

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IMAP accelerates French-Indian M&A deals

IMAP launched the first in a series of ‘India Focus’ events dedicated to accelerating acquisition, joint-venture and outsourcing opportunities in India.

Commencing this week in Paris, the 2 day event was organized by IMAP France (Societex Corporate Finance) with the support of representatives from IMAP India (Motilal Oswal).  It kicked off with exclusive one-on-one meetings with over 12 CEO’s from key corporations, the majority of which from the IT, Fintech, E-commerce, Engineering, Automotive, Aerospace, Infrastructure and Food Industries.  During day 2, IMAP hosted a Conference assisted by Private Equity Groups looking to take advantage of build-up opportunities for their portfolios or direct investments in India and was wrapped up by means of visits and meetings with clients with active projects in India.

Societex Motilal

With a current economic growth of 7.5%, driven by the services sector and favourable demographics, India offers ample business opportunities and continues to intensify its M&A operations.  For French investors, India is a unique reservoir of IT, engineering and manufacturing skills still reasonably cost.  An economy with great entrepreneurs, it offers unique investment opportunities in the Infrastructure sector. For Indian buyers, French engineering companies provide access to key worldwide accounts in strategic sectors such as Automotive, Aerospace and Defense.

Over a third of IMAP M&A deals are cross-border and IMAP is perfectly equipped to take advantage of India’s expansion and accelerate the number of cross-border deals closed there.  The kick-off event in Paris proved a great success and will be replicated over the upcoming months across Europe.

Pascal Riviere, Partner at IMAP France said “In the past our clients were focused on China, however we are now experiencing a growing interest in acquisition opportunities in India, for the most part in the TMT sector, but also in traditional industrials and the food industry”.

Dattatray Pandit, Director at IMAP India added, “We are delighted by the positive response we have received.  I am convinced that the M&A flow between Europe and India will increase dramatically in the coming years with IMAP playing a key role”.

IMAP

IMAPEstablished in 1973 and present in more than 40 countries, IMAP consistently ranks amongst the top M&A mid-market advisors worldwide. With over 200 deals completed in 2014, IMAP’s sector expertise, dedicated professionals and cross-border collaboration continue to drive its differential value proposition globally. More information can be found at www.imap.com

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Britain’s Heathrow sinks to $2.8 billion loss during pandemic

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Britain's Heathrow sinks to $2.8 billion loss during pandemic 1

LONDON (Reuters) – Britain’s Heathrow Airport plunged to a 2 billion pound ($2.8 billion) annual loss after passenger numbers collapsed to levels last seen in the 1970s during the pandemic.

Heathrow called on the government to agree a common international travel standard to allow passengers to start flying again in the summer and to provide business tax breaks for airports to help them ride out the crisis.

The airport, west of London, is hopeful that travel markets will reopen from mid-May after a government announcement on easing lockdown on Monday.

Still Britain’s biggest airport, Heathrow last year lost its title as the busiest in Europe to Paris as its flight schedules contracted more than its rival’s.

The airport said on Wednesday that during 2020 passenger numbers shrunk 73% to 22 million people, with half of those people having travelled during January and February before COVID-19 shut down global travel.

The airport sunk to a 2 billion loss before tax on revenues which were down 62% to 1.18 billion pounds, but Heathrow said it had 3.9 billion pounds of liquidity and that could keep it going until 2023.

The airport is owned by Spain’s Ferrovial, the Qatar Investment Authority and China Investment Corp, among others.

($1 = 0.7044 pounds)

(Reporting by Sarah Young; Editing by Kate Holton and James Davey)

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Strong exports, construction boost German economy in fourth quarter

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Strong exports, construction boost German economy in fourth quarter 2

BERLIN (Reuters) – Bullish exports and solid construction activity helped the German economy to grow by a stronger-than-expected 0.3% in the final quarter of last year, the Federal Statistics Office said on Wednesday, revising an earlier estimate.

The office, which previously had reported a 0.1% expansion on the quarter from October to December, said it also revised upward its 2020 full-year GDP figure for Europe’s largest economy to -4.9% from -5.0%.

Adjusted for calendar effects, the economy last year shrank by 5.3%, which was a much smaller contraction than many other European countries recorded, mainly due to a strong fiscal response of Chancellor Angela Merkel’s government to the COVID-19 pandemic.

The debt-financed fiscal splurge created an overall state budget deficit of 139.6 billion euros or 4.2% of gross domestic product in 2020, the office said. This was the first deficit since 2011 and the second-highest since German reunification.

(Reporting by Michael Nienaber; Editing by Maria Sheahan)

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UK’s Sunak could extend stamp duty holiday until June-end – The Times

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UK's Sunak could extend stamp duty holiday until June-end - The Times 3

(Reuters) – British finance minister Rishi Sunak is preparing to extend the stamp duty holiday by three months until the end of June in an attempt to boost activity in the housing market as the country emerges from lockdown, The Times reported on Wednesday.

The extension to the policy, which covers sales of properties worth up to 500,000 pounds ($708,100), could cost the government 1 billion pounds, the report https://bit.ly/3sglJoS added.

Britain raised the threshold of property tax to 500,000 pounds last July from 125,000 pounds, exempting nine of 10 people buying a main home from stamp duty. The temporary cuts are set to expire in March 2021.

Sunak will use his annual budget on March 3 to move the policy to the end of June, bringing it in line with the easing of lockdown restrictions, the newspaper said.

He will also announce plans to raise corporation tax while Treasury officials are considering a 25% tax hike.

Sunak said on Tuesday that he would set out more details of job support measures at his budget next week, after official figures showed unemployment had risen to its highest since early 2016.

($1 = 0.7061 pounds)

(Reporting by Aishwarya Nair in Bengaluru, Editing by Sherry Jacob-Phillips)

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