MUMBAI, Oct 16 Asia Pulse - Indian investment banker Ambit today said it was close to finalising a strategic alliance with a European bank for cross border merger and acquisition deals.
"We are in active discussions with two European banks for a strategic alliance, which will provide us the ability to spot the right M&A targets and finance the transactions," Ambit Holdings MD Ashok Wadhwa told reporters here.
The alliance partner is likely to be finalised by the month end, Wadhwa said, adding it will be a strategic tie-up with no equity partnership.
Ambit has also launched a US$100 million mid-market fund, with a greenshoe option of US$25 million for investing in small and medium size companies.