The year opened with a bang when Tata Steel acquired Anglo-Dutch steel maker Corus Steel for around $12 billion. But there were other big deals as well: for instance, Hindalco’s $6-billion acquisition of Novelis. But many deals were modest — under $1 billion — ranging from JSW Steel’s $675-million acquisition of Southern Iron and Steel Co in October to HDFC’s 4 per cent acquisition in HDFC Bank for $337 million in June. One of the biggest private equity deals in the year was ICICI Venture Fund Management’s $800-million investment in Jaypee Infratech. The year closed with a gaggle of private equity players, including Goldman Sachs and Temasek picking up a stake in Bharti Infratel for $1 billion.

Buyout blaze