Reliance Industries ropes in Navin Wadhwani head M&A activities

Reliance Industries ropes in Navin Wadhwani to head M&A activities

12:11 AM, 27th August 2011
Reliance Industries ropes in Navin Wadhwani to head M&A activities
Mukesh Ambani, Chairman of Reliance Industries.

 

MUMBAI, INDIA: Mukesh Ambani led Reliance Industries Limited (RIL), has decided to bring in Navin Wadhwani, Ex-Managing Director at NM Rothschild and Sons (India) Pvt Ltd, to head its new mergers and Acquisition (M&A) division. Wadhwani will be responsible for setting up a dedicated M&A team for RIL that will most likely take on operations previously headed and managed by Chief Financial Officer, Alok Agarwal and Manoj Modi; who led the recent deal between RIL and BP Plc.

Navin Wadhwani comes with 20 years of experience in advising on financial restructuring of electricity and infrastructure based industries. He has overseen many key cross-border M&A deals and will now head he same for Reliance Industries.

Reliance Industries has been growing steadily in terms of size and scale and is looking to acquire more businesses for inorganic growth. It is looking to expand into diverse areas and effectively utilize capital assets. “We are gearing up for the next phase of growth through a combination of our own initiatives and forging new partnerships with leading companies of the world,” said Mukesh Ambani, Chairman of RIL, speaking at the 2010-11 AGM.

Reliance Industries has been charting numerous significant deals since last one year, including acquisition of Infotel Broadband Services in 2010 that marked its entry into telecom sector, joint ventures with US based investment and technology development firm DE Shaw and Co, acquisition of Bharti Group’s 74 per cent stake in two insurance joint ventures with France’s AXA Group, joint ventures with US based energy majors Chevron, Pioneer and Carrizo for acquiring shale gas assets and its much acclaimed deal with London based energy giant BP plc that is set to bring in one of the largest FDI seen in Indian energy quarter.

(C) WOC News

 

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