Emerging Europe: M&A report 2014/2015

Emerging Europe
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CMS’ Emerging Europe: M&A report 2014-2015 contains the list of the biggest M&A transactions across 15 CEE/SEE countries, provides commentary on what happened in 2014 and our deal predictions for 2015; in each case, on a jurisdiction by jurisdiction basis.

Highlights include:

  • Manufacturing was the most active sector by number of deals, with 364 deals representing 17% of all transactions.
  • Mining (including oil & gas) was the leading sector in terms of deal value, at over €10 billion, accounting for nearly 17% of the overall market.
  • M&A in Russia accounted for 33% of all deals in emerging Europe and 47% of the total deal value in 2014. Poland came second with a 13% share of deal numbers, closely followed by Turkey with 12%.
  • Private equity funds – known for their higher risk appetite – had a relatively good year in the region as the number of PE-related deals rose by 6% to 248
  • M&A activity in Emerging Europe saw a sharp 43% drop in deal values in 2014, falling from €112 billion in 2013 to €64 billion in 2014.

Helen Rodwell, CMS CEE Corporate Partner states: ‘There are signs of market recovery across the region. We are witnessing increasing interest from global private equity players both in midsize – and often family or founder-owned – businesses across the region as well as in larger assets that are coming onto the market due to privatisation programmes or secondary sales, including various infrastructure assets. Although the levels of activity across the region still vary widely – with countries such as the Czech Republic and Slovakia showing record deal volumes – on the whole we are upbeat about the year to come.’