Old world, new groove

30 June 2020 By Liam Proud Follow @liamwardproud

Deals targeting companies in the region rose 39% to $415 bln in the first half, defying a massive global slump. Anomalies helped. As Brussels favours European corporate champions, the relative trend will continue. That helps UBS and Deutsche even if companies are suffering.

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The value of global mergers and acquisitions slumped by 42% year-on-year to just under $1.2 trillion, according to Refinitiv data. Deals targeting European companies rose by 39% to $415 billion, compared with a 70% slump for those targeting firms in the Americas.

The biggest transaction was Unilever’s planned move to simplify its shareholding structure by merging its Anglo-Dutch holding companies into a single, London-listed parent company. The second largest deal was the purchase of a roughly $30 billion controlling stake in Russia’s Sberbank by the country’s finance ministry, funded by its National Wealth Fund.

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