Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.
The board of South Africa's Gold Fields will not change its offer for Yamana Gold after a surprise rival bid from Agnico Eagle and Pan American, Reuters
Gold Fields' decision reflects "commitment to capital discipline" and to fairness for shareholders in Gold Fields and Yamana, the South Africa-listed miner said on Monday.
GIC, a sovereign wealth fund to manage Singapore's foreign reserves, and Dream Industrial REIT, a real estate investment trust company, agreed to acquire Summit Industrial Income REIT, an open-ended mutual fund trust focused on growing and managing a portfolio of light industrial properties across Canada, for $4.4bn.
"We are pleased to provide an immediate and certain premium value to our unitholders through this all-cash transaction with GIC and Dream. The entire Board of Trustees and management team are proud to have executed on our strategy to develop and aggregate an attractive, diversified portfolio with a team that is dedicated to delivering best-in-class services to our tenants, and this value optimization transaction represents a successful culmination of these efforts. We are confident this transaction is in the best interest of the REIT and unitholders," Paul Dykeman, Summit CEO and Trustee.
Summit Industrial Income REIT is advised by Morrow Sodali Global, BMO Capital Markets, McCarthy Tetrault and Joele Frank (led by Matthew Sherman
). GIC is advised by CBRE Group, TD Securities, Skadden Arps Slate Meagher & Flom and Stikeman Elliott. Dream Industrial REIT is advised by Scotiabank, Goodmans, King & Spalding and Osler Hoskin & Harcourt.
Canadian miner Turquoise Hill said it has once again postponed by a week its special shareholder meeting to vote on the proposed take over by Rio Tinto, on a request by the mining giant.
The meeting to approve Rio Tinto acquiring 49% of shares of Turquoise Hill that it does not own for $3.3bn, which was originally scheduled for November 1, was postponed to November 8, and now has been pushed back to November 15, Reuters
Turquoise Hill is advised by BMO Capital Markets, Morgan Stanley, TD Securities, Blake Cassels & Graydon, Norton Rose Fulbright and Paul Weiss Rifkind Wharton & Garrison (led by Adam M. Givertz
). Rio Tinto is advised by Credit Suisse, RBC Capital Markets, Rothschild & Co (led by Roger Ewart
), McCarthy Tetrault (led by Shea T. Small
) and Sullivan & Cromwell (led by Scott Miller
The fate of Rogers Communications' acquisition of Shaw Communications will be decided at a Canadian Competition Tribunal hearing starting on Monday, after the companies and the antitrust bureau failed to reach a settlement despite repeated attempts, Reuters
The deal launched in March 2021 is seen as a test case for the Canadian antitrust bureau's ability to foster competition in a country where customers and advocates have complained about market concentration from industries ranging from telecoms to banks. Recently, the bureau acquired more powers from the federal government to strike on anti-competitive practices.
Shaw Communications is advised by CIBC World Markets, TD Securities, Burnet Duckworth & Palmer (led by Grant A. Zawalsky
), Davies Ward Phillips & Vineberg (led by John Bodrug
), Dentons (led by William Jenkins
) and Wachtell Lipton Rosen & Katz (led by Adam Emmerich
and Mark Stagliano
). Financial advisors are advised by Osler Hoskin & Harcourt. Rogers Communications is advised by Bank of America, Barclays, Cravath Swaine & Moore (led by Erik Tavzel
), Goodmans (led by Dale Lastman
) and Torys (led by Richard Willoughby
). Financial advisors are advised by
Davis Polk & Wardwell, Latham & Watkins and McCarthy Tetrault (led by Richard Higa
Ritchie Bros, a global asset management and disposition company, agreed to acquire IAA, a global digital marketplace connecting vehicle buyers and sellers, for $7.3bn.
"IAA accelerates our journey to become the trusted global marketplace for insights, services, and transaction solutions. Their highly complementary business in an adjacent vertical will allow us to unlock additional growth. Through our trusted brands, similar operating model, and complementary services, we expect to drive efficiencies and create a more resilient business," Ann Fandozzi, Ritchie Bros CEO.
IAA is advised by JP Morgan, Blake Cassels & Graydon, Cooley and ICR (led by Farah Soi
). Ritchie Bros is advised by Evercore, Goldman Sachs, Guggenheim Partners, RBC Capital Markets, Goodwin Procter (led by Stuart Cable
, Lisa Haddad
, and Mark Opper
), McCarthy Tetrault, Skadden Arps Slate Meagher & Flom and Joele Frank (led by Daniel Katcher
Complete Solaria, a solar services provider, went public via a SPAC merger with Freedom Acquisition I, a special purpose acquisition company, in a $553m deal.
“I’m extremely excited about what the combination of Complete Solar and Solaria will be able to achieve. Solaria’s dealers and distributors will benefit from access to Complete Solar’s sales partners and digital platform, and Complete Solar’s partners will benefit from the ability to offer the industry’s leading premium solar panel. We couldn’t be happier to join with Complete Solar and make progress toward our shared vision of a clean energy future," Tony Alvarez, Complete Solaria President.
Ouster, a provider of high-resolution digital lidar, agreed to merge with Velodyne, a global player in lidar sensors and solutions, in a $400m deal.
"Ouster's cutting-edge digital lidar technology, evidenced by strong unit economics and the performance gains of our new products, complemented by Velodyne's decades of innovation, high-performance hardware and software solutions, and established global customer footprint, positions the combined company to accelerate the adoption of lidar technology across fast-growing markets with a diverse set of customer needs. Together, we will aim to deliver the performance customers demand while achieving price points low enough to promote mass adoption," Angus Pacala, Ouster CEO.
Velodyne is advised by Bank of America, Skadden Arps Slate Meagher & Flom and Darrow Associates. Ouster is advised by Barclays and Latham & Watkins.
VillageMD, a value-based primary care provider, agreed to acquire Summit Health-CityMD, a provider of primary, specialty and urgent care, for $8.9bn. The transaction includes investments from Walgreens Boots Alliance and Evernorth.
"This is an epic milestone in our journey to transform healthcare in the United States. Summit Health-CityMD has been a leader in delivering coordinated, multi-specialty care for decades. We are honored to work side-by-side with their 13k strong workforce who are passionately committed to delivering the best outcomes for millions of patients. Both organizations share a deep commitment to keeping our patients and clinicians at the forefront of what we do to best serve them," Tim Barry, VillageMD CEO and Chair.
VillageMD is advised by Centerview Partners. Summit Health is advised by Jefferies & Company. WBA is advised by Wachtell Lipton Rosen & Katz (led by David E. Shapiro and Jenna E. Levine)
Viatris, a global healthcare company, agreed to acquire Oyster Point Pharma, an American biopharmaceutical firm, and Famy Life Sciences, a drug development platform, for $750m.
"We've been talking about the potential power of our Global Healthcare Gateway since we launched Viatris, that is why I am especially excited that the two ophthalmology acquisitions we announced today came about directly as the result of the Global Healthcare Gateway. These acquisitions bring us an innovative growth asset, Tyrvaya®, and five additional Phase III or Phase III-ready programs that give us a significant head-start in creating a leading ophthalmology franchise," Michael Goettler, Viatris CEO.
Viatris is advised by Citigroup and Cravath Swaine & Moore (led by Mark I. Greene
and Andrew Wark
). Oysterpoint is advised by Centerview Partners.
Alta Resources, a provider of solutions for customer-management business processing outsourcing, completed the acquisition of BRM, a Colombia-based full-service BPO solutions provider. Financial terms were not disclosed.
"This is an organization that has a culture that aligns with ours and a proven track record of prioritizing employee engagement, excellence in serving clients, and innovative service and solutions," Jim Beré, Alta Resources Chairman and CEO.
White Wolf Capital-backed DCCM, a provider of design, consulting, and program & construction management services based in Houston, Texas, agreed to acquire Urban Engineering and Urban Civil, providers of public works, land and site development, and surveying work for public and private clientele along the Texas Gulf Coast and other regions. Financial terms were not disclosed.
"The acquisition of Urban Engineering is an exciting addition to the DCCM family. We are delighted to have found a new partner whose vision aligns with ours. The experience Urban Engineering brings will allow us to expand our engineering services capabilities further as we continue to build our company to provide the best engineering services for our customers," James F. Thompson, DCCM CEO.
Volaris Group, a software company, agreed to acquire Equiplano, a provider of public administration software in Paraná, Brazil. Financial terms were not disclosed.
"We are excited with the arrival of Equiplano to the Volaris Family. The public sector of Brazil creates exciting opportunities and Equiplano, with its leading role in the south of the country, will be well-positioned to achieve even more with Volaris' best practices. Volaris has momentum in Brazil and, with Equiplano's acquisition, now has a footprint in yet another new vertical," Henrique Barreto, Volaris Group Leader.
Custard, a risk management services provider, completed the acquisition of SIAdvisers Consulting & Solutions, a consulting company. Financial terms were not disclosed.
"The synergy between our organizations was a driving factor in the decision to be acquired by Custard. This allows us to continue servicing all our clients in the manner that they are accustomed to, while giving us the opportunity to expand these services in Canada and the US market. We are very excited to see what the future holds for SIA under the Custard umbrella," Scott Francis, SIAdvisers President and CEO.
Gallant Capital-backed Pro-Vac, a provider of essential subsurface infrastructure services, completed the acquisition of Vac-One, a provider of hydro excavation services in Texas, Oklahoma, Colorado and New Mexico. Financial terms were not disclosed.
"We are incredibly excited to further grow Pro-Vac in combination with Vac-One. Enhancing Vac-One's current service offerings with Pro-Vac's platform of diversified subsurface infrastructure services will immediately benefit Vac-One's existing customer base. The ability to leverage the combined platform's capabilities will provide our customers with the most comprehensive set of infrastructure services in the market," Graham Gill, Pro-Vac CEO.
Peabody, Coronado Global Resources end talks over $6bn deal.
Peabody Energy and Coronado Global Resources have ended talks over combining to create a new global coal giant valued at about $6bn, WSJ
Peabody, the largest US coal producer, and Coronado on Monday said they had agreed to end discussions over a combination that would have brought together assets from North America to Australia. Neither company gave a reason for the failure of the talks or disclosed the financial terms that had been proposed.
Blackstone to sell PRI Operating for $2bn. (FS)
Blackstone is looking to further its withdrawal from fossil fuel investments with a unit of the global alternative investment firm said to be exploring the sale of oil and gas producer PRI Operating for around $2bn including debt.
PRI Operating owns around 35k net acres in the southern Delaware basin, which forms part of the wider Permian basin which stretches across Texas and New Mexico, as well as pipeline infrastructure used to transport the water used to help extract shale oil and gas.
Exxon faces $2bn loss on sale of troubled California oil properties.
Exxon Mobil will take up to a $2bn loss on the highly leveraged sale of a troubled California offshore oil and gas field that have been idled since a 2015 pipeline spill, Reuters
The sale comes after a failed bid this year to restart production at the site and as Exxon culls poor performing businesses. Santa Barbara officials in March rejected an Exxon plan to restart operations and ship oil via dozens of tanker trucks each day to inland refineries.
TriNet Group commences a modified Dutch auction tender offer to repurchase up to $250m of its common stock.
TriNet Group, a cloud-based professional employer organization, announced that it has commenced a modified "Dutch auction" tender offer to purchase for cash up to $250m in value of its common stock at a price per share not less than $63 and not greater than $72, less any applicable withholding taxes and without interest, using available cash on hand.
On November 4, 2022, the closing price of the Common Stock was $61.75 per share. The Tender Offer will expire at 12 midnight, New York City time, at the end of the day on December 6, 2022, unless extended or terminated.
US accounting industry split on taking private equity cash. (FS)
Several of America’s largest accounting firms have explored the possibility of taking private equity cash in recent months, as money from buyout funds adds fuel to a mergers and acquisitions boom across the industry, FT
BDO and Grant Thornton are among those to have considered a deal with private equity, and while neither immediately decided to pursue an investment, bankers and executives expect a number of smaller firms will do so, and use the cash to swoop on rivals.
HighVista Strategies closes opportunistic private Credit Fund II. (FS)
HighVista Strategies, a boutique firm focusing on alternative investment strategies, announced the final close of its HighVista Opportunistic Private Credit Fund II. HighVista closed on $450m of capital for Fund II and related entities, exceeding the target for the fundraise. Fund II had strong support from existing clients including pension funds, endowments and foundations, and family offices.
Continuing with the strategy that HighVista pursued in its predecessor credit fund, Fund II will take a multi-strategy approach and invest in real estate-backed credits, corporate credits, and uncorrelated credit opportunities.
Mesa Minerals Partners III raises $150m of aggregate equity commitments from NGP. (FS)
Mesa Minerals Partners, a private mineral company, raised $150m of aggregate equity commitments from NGP through NGP Natural Resources XII, and NGP Royalty Partners II.
“We are excited to partner again with NGP to build a new premier mineral and royalty platform focused on acquisitions of royalty assets in the Haynesville and Permian basins. We believe our expertise and track record of acquiring royalty packages, as well as our ability to complement the position with our strong micro transaction ground game, allows us to build out a portfolio of assets that provides attractive returns to investors,” Darin Zanovich, Mesa III President & CEO.
BDC commits $73m to Kensington Venture Fund III. (FS)
The Government of Canada, through the Venture Capital Catalyst Initiative of the Business Development Bank of Canada, has committed $73m to Kensington Venture Fund III.
The new Fund III, a fund of funds that targets venture funds in Canada, has a target size of $210m with BDC investing 25% of that total. The vehicle’s predecessor, Kensington Venture Fund II, closed in 2019 on $108m.
Elliott Management, the biggest shareholder in Swedish Match, has decided to back Philip Morris's $17.4bn offer for the smokeless tobacco specialist, putting completion of the deal within reach, FT
reported. PMI's offer had received more than 80% of shareholder acceptances, as of the latest count on Friday.
"We are pleased to announce this exciting next step in Philip Morris International's and Swedish Match's trajectory toward a smoke-free future. Underpinned by compelling strategic and financial rationale, this combination would create a global smoke-free champion—strengthened by complementary geographic footprints, commercial capabilities and product portfolios—and open up significant platforms for growth in the US and internationally. Swedish Match's dedicated employees and management have steadfastly pursued the company's vision of a world without cigarettes, while delivering very strong results. We look forward to building upon this success and joining forces to accelerate our shared smoke-free mission," Jacek Olczak, PMI CEO.
Silver Lake and Sequoia-backed Unity, a platform for creating and operating interactive, real-time 3D content, completed the merger with ironSource, a business platform that empowers mobile content creators, in a $4.4bn deal.
“We’re happy to welcome ironSource to the Unity family and get a step closer to our goal of being the leading platform for a world with more creators in it. Together, we offer a complete ecosystem for developers to successfully realize and achieve their goals – no matter where they are in the development cycle," John Riccitiello, Unity CEO.
PayPoint, a British business offering a system for paying bills in United Kingdom, Ireland and Romania, agreed to acquire Appreciate Group, a gifting and engagement company, for £83m ($94m).
"The PayPoint Board believe the proposed acquisition of Appreciate Group provides a compelling opportunity to acquire a highly complementary business with well-established offerings in prepayment savings and the corporate and consumer gift card and voucher sector," Nick Wiles, PayPoint CEO.
Timken, a provider of engineered bearings and industrial motion products, completed the acquisition of GGB Bearing Technology, a provider of self-lubricating, prelubricated plain bearings and tribological polymer coating for various industries and applications, from EnPro Industries, an industrial technology company, for $305m.
“The sale of GGB marks a significant milestone in our transformation to create a streamlined organization focused on our AST and Sealing Technologies segments, positioning Enpro for compelling growth. The sale also provides us with enhanced financial flexibility to expand our leading-edge capabilities in attractive end markets. On behalf of my Enpro colleagues, I thank the GGB team for their contributions to our company and wish them continued success in their next chapter as part of Timken," Eric Vaillancourt, Enpro President and CEO.
Permanent TSB, a personal financial services provider, completed the acquisition of 25 branches of Ulster Bank, a retail bank, for $7.3bn.
"This is a transformational day for Permanent TSB as we work towards our ambition of being Ireland's best personal and small business bank. We extend a warm welcome to the 56k mortgage customers and our new colleagues who are joining us today and we want to assure them that we will give them a best-in-class mortgage offering and colleague experience, underpinned by a high-quality service and great people," Eamonn Crowley, Permanent TSB CEO.
Ara Partners, a specialist buyout firm focusing on industrial decarbonization investments, completed the investment in CF Pathways, an energy and environmental risk management business. Financial terms were not disclosed.
"As an innovation leader in developing and delivering market-based low carbon and net-zero solutions, CF Pathways [is] ideally aligned with Ara's industrial decarbonisation investment strategy," Christopher Picotte, Ara Partner.
Latour, an investment company, agreed to acquire a 31.8% stake in Anolytech, a developer of a circular system for producing effective disinfection. Financial terms are not disclosed.
"One of our investment areas is solutions for sustainable water supply. Anolytech offers a bio-based circular system that effectively prevents unwanted bacteria and viruses from spreading via our water," Pelle Mattisson, Latour CEO.
Allegion, a security products and solutions provider, agreed to acquire plano, a software-as-a-service workforce management solution. Financial terms are not disclosed.
“This acquisition will be a natural evolution for plano, providing important capital, scale and demand generation resources. Our longstanding relationship with Interflex will support an efficient transition that benefits our customers and builds on our mutual reputations of both quality and excellence," Robert Schüler, plano Founder.
Prevas, a supplier and development partner, completed the acquisition of Myra Industrial Design, an industrial design provider. Financial terms were not disclosed.
“Myra will be a really nice addition to our existing operations. With their expertise in industrial design, they further strengthen our offer in product development and make us an even stronger partner," Hans-Erik Wikman, Prevas Regional Manager.
CVC Capital makes $1.72bn approach for IWG's digital division. (FS)
Private equity firm CVC Capital Partners has approached office rental company IWG about a $1.72bn potential carve-out of its digital division, the Instant Group, Reuters
Instant Group chief Tim Rodber had been marketing the business to a number of private equity firms in recent weeks following a string of unsolicited approaches.
Schlumberger-backed Arabian Drilling surges in Riyadh debut.
Arabian Drilling, a Saudi oilfield-services firm partly held by Schlumberger, surged in its trading debut after raising $710m from its initial public offering in Riyadh, Bloomberg
The shares traded at $31.40 at Tadawul's open, from an IPO price of $26.63 a share.
Axiom, a legal talent provider, completed the acquisition of Plexus Engage, a provider of lawyers for in-house legal teamsб from Plexus, a legal technology firm. Financial terms were not disclosed.
"Plexus Engage provides Axiom with an experienced team with a proven track record of driving both growth and profitability in the Australian market. Our common goal is to provide legal departments with the flexibility and quality they need to drive efficiency and innovation – a priority in these challenging economic times. This acquisition is a natural extension of our current business in the APAC region, and we plan to invest heavily in this business to drive growth in Australia and adjacent geographic markets," David McVeigh, Axiom CEO.
Malaysian power firm Tenaga said to be weighing $1bn stake sale in green energy unit.
Malaysia’s state-owned power firm Tenaga Nasional is said to be considering selling a minority stake in a planned renewable energy unit, DealStreetAsia
The sale could raise $300m to $1bn from potential investors, which will be used to help the Kuala Lumpur-listed power firm fund its expansion into the renewable energy sector.
Binance to sell $529m of Bankman-Fried’s FTT Token.
Zhao Changpeng, chief executive of the world’s biggest cryptocurrency exchange Binance, said on Twitter that he has decided to sell all remaining FTT tokens, Bloomberg
FTT is the coin of billionaire Sam Bankman-Fried’s FTX, the rival cryptocurrency exchange that Binance used to hold a minority stake in. When Binance exited that investment last year, it received $2.1bn in Binance USD and FTT coins, the remainder of which it has decided to unload, Zhao said, citing “recent revelations that came to light.”
Pathlab weighs sale of Malaysian medical testing business.
Pathology & Clinical Laboratory, a Southeast Asian medical testing company, is considering selling its business in Malaysia which could fetch about $200m in a transaction, Bloomberg
Pathlab, as the company is known, is working with an adviser on the potential divestment. While the sale process hasn’t formally started, some buyout firms and hospital operators have expressed initial interest.
Investcorp plans major ramp up of India assets to $5bn. (FS)
Investcorp plans a major ramp up of investments in India, according to Mohammed Alardhi, executive chairman, as the alternative asset manager joins global firms eyeing opportunities in the world’s second most-populous country.
The Middle East firm expects to reach $5bn of assets in India in the next five years, up from just over $600m currently, or 1.5% of the $42.7bn in assets managed by Investcorp, Bloomberg
Evergrande's interests in Hong Kong plot sold by receivers for $637m. (RE)
China Evergrande Group said on Sunday its interests in a plot of undeveloped land for residential development in Hong Kong’s Yuen Long district have been sold by its receivers for $637m.
The proceeds will be used to repay some of the company’s financial obligations in relation to the project and a loss of about $770m is expected to be recorded in respect of the project, DealStreetAsia
Fosun looking to sell stake in HK-listed Zhaojin Mining for $561m.
Fosun International, a Chinese multinational conglomerate holding company, said its affiliate Shanghai Yuyuan Tourist Mart Group will sell 654m Hong Kong shares of Zhaojin Mining Industry, a gold mining enterprise jointly ventured by Zhaojin Group and Fosun International, for $560m.
Shanghai Yuyuan is offering to sell the stake in Zhaojin Mining at a discount of 1.8% from the closing price on November 4.
JIP submits $15bn Toshiba bid, friction for bidders and banks.
Private equity fund Japan Industrial Partners has submitted a bid to buy Toshiba for around $15bn that lacks key commitments from banks. JIP's proposal, which includes more than ten investors such as utility Chubu Electric Power and financial services group Orix, is seen totalling around $15bn.
Disagreement over whether to keep Toshiba's management following a potential buyout caused friction between two of its suitors and is now stoking concern among banks, Reuters
Japan Industrial Partners, the private equity firm since selected by Toshiba as a preferred bidder, originally teamed up with state-backed fund Japan Investment Corp in a first round of bidding earlier this year.
API Holdings raises debt financing. (FS)
API Holdings, the parent company of PharmEasy, raised an undisclosed amount in debt from a Temasek-backed growth-stage financing platform EvolutionX Debt Capital.
The debt financing platform has also appointed Rahul Shah and Calvin Cheng to lead investments across India, China, and Southeast Asia. Shah is a former executive from Standard Chartered Bank, while Cheng is an ex-Citibank vice president.
China’s second-largest chipmaker gets nod for $2.5bn Shanghai IPO.
Chinese chip manufacturer Hua Hong Semiconductor has received regulatory approval for an $2.5bn IPO in Shanghai, DealStreetAsia
The planned initial public offering comes as China’s chip companies gear up for steeper competition with the United States due to geopolitical tensions.
Inox Green IPO to open on November 11.
Inox Green Energy Services, a subsidiary of Inox Wind, has fixed a price band of $0.74-0.79 per share for its $90m initial public offering. The initial share-sale will open for public subscription on November 11 and conclude on November 15, and the bidding for anchor investors will open on November 10, the company said in a BSE filing.
As per the draft papers, the IPO comprises fresh issuance of equity shares worth $45m and an offer-for-sale of shares aggregating to $45m by promoter Inox Wind.
China hotel chain Atour said to plan taking US IPO orders soon.
Atour Lifestyle Holdings, a Chinese hotel chain, is planning to start taking investor orders for its US initial public offering as early as this week, Bloomberg
The company is looking to raise less than $100m in the first-time share sale. Deliberations are ongoing and details of the offering such as the fundraising amount and timing could still change.
India's Adani Group continues to seek strategic equity partners.
India’s ports-to-energy conglomerate Adani Group continues to seek strategic equity partners aligned with its long-term investment strategy, debt research firm CreditSights said in a report, flagging concern over the Group’s elevated leverage, DealStreetAsia
The Group, led by Asia’s richest person Gautam Adani, is looking to expand its presence in power generation and infrastructure and ventured into cement-making operations earlier this year.
Logistics giant GLP nets $1bn for sixth China income fund. (FS)
Global logistics giant GLP has clinched $1bn for the final close of its sixth China income fund, GLP China Income Fund VI, DealStreetAsia
Under the portfolio of GLP CIF VI are 20 stabilised and income-producing logistics properties with 2.13m square metres in total leasable area, which are rented out to e-commerce, logistics, and retail companies across 19 cities in China. Investors in the fund include leading domestic insurance companies and other existing GLP institutional investment partners.
Kotak plans to hire 20 investment bankers in bet on M&A recovery. (People)
Kotak Mahindra Bank’s investing banking arm is planning to expand its operation by hiring about 20 bankers, betting on a rebound in deals activity next year, Bloomberg
The addition would mean a 25% increase to its current 80-strong investment banking unit, according to S Ramesh, managing director and chief executive officer of Kotak Investment Banking. The firm is looking to fill positions from analyst to director levels across sectors including financial services, health care and technology, where overseas companies such as Amazon.com and Walmart may search for investment opportunities, he said. Electric vehicles and renewable energy could also draw interest.