Bloomberg News

Evercore, Kotak Mahindra Bank Team Up to Advise on Takeovers

October 31, 2011

(Updates with Evercore comment in third paragraph.)

Oct. 31 (Bloomberg) -- Evercore Partners Inc., the investment bank founded by Roger Altman, and Kotak Mahindra Bank Ltd. will work together to advise on acquisitions involving India, the U.S., the U.K. and Mexico.

Evercore and Kotak Mahindra Capital Co., a unit of Mumbai- based Kotak Mahindra Bank, signed the agreement today, the companies said in a joint statement, without giving financial details of the deal.

Kotak Mahindra, controlled by billionaire Uday Kotak, aims to tap overseas markets after the value of acquisitions in India slid 41 percent this year as rising borrowing costs and a stock market slump cut the appetite for deals. The alliance will expand New York-based Evercore’s network of global partners, Altman said in the statement.

--Editors: James Gunsalus, Nathaniel Espino

To contact the reporter on this story: George Smith Alexander in Mumbai at galexander11@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net


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