LONDON (Reuters) - British investment bank Close Brothers Corporate Finance CBG.L said on Tuesday it was looking to enter the Indian market via an alliance with a local boutique firm.
Executive Chairman Richard Grainger said: "We are looking for someone to become a partner through Close Brothers Associates."
Grainger, speaking at the Reuters Investment Banking Summit in London, said the firm hoped to finalize a partnership in the early part of next year.
He said Indian boutique firms were active in various sectors including corporate finance advisory and asset management.
Close Brothers Corporate Finance, part of the Close Brothers Group, specializes in mergers and acquisitions advisory, debt advisory and restructuring.
Grainger was bullish on prospects for Indian M&A activity, saying it was part of a fundamental shift taking place that companies from emerging markets are looking to do deals externally.
He pointed to Tata's recent bid for steel company Corus CS.L as an example.
In 2005, Close Brothers advised Tata Technologies on its $98.9 million acquisition of engineering and design services provider INCAT International.
"This is the tip of the iceberg for what could come from India," Grainger said. Continued...
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