PwC continues to lead the market for financial advice in mergers and acquisitions in 2014, for the third year in a row, by number of deals closed (those that were not just announced but were actually carried out). This was recognised by the main Spanish market rankings, by Thomson Reuters and Mergermarket. Below are the transactions market’s main figures (M&A).
PwC has provided advisory services in a total of 87 operations, ahead of KPMG (72), Deloitte (54), E&Y (32), BDO (19), Goldman Sachs (18), BBVA (17) and Lazard (16), according to the figures published by Thomson Reuters.
According to Mergermarket, PwC provided advisory services in 2014 on a total of 34 closed deals, compared with 27 by Deloitte and 25 by KPMG. These were followed by BBVA with 25, E&Y with 22, and Lazard with 14. The difference between Thomson and Mergermarket’s data is mainly due to the fact that the latter did not include M&A deals related to the sale of real estate assets or financial institutions’ transactions in respect of bad debt.
The main deals on which PwC provides advice include Red Eléctrica’s acquisition of Adif’s dark fibre; Värde Partners’ purchase of Banco Popular’s credit card business; the sale of Santander’s real estate subsidiary to the US fund Apollo; the sale of Valencia Football Club to businessman Peter Lim (Singapore); the privatisation of Bamsa awarded to Saba Aparcamientos; the sale of Inmare, Banco Mare Nostrum’s real estate subsidiary to Aktúa, a subsidiary of the Centerbridge fund and the purchase of Neinor, the real estate subsidiary of Kutxabank by the American fund Lone Star, among others.
Malcolm Lloyd, partner in charge of PwC Transactions and Private Equity comments: "we hope that in 2015 the transactions market’s activities continue to increase as a result of the improved economic situation. Spain has regained its status as an attractive market for investments, not just for distressed transactions but for other corporate and private equity transactions. Large companies now have high liquidity and will be the ones, together with financial investors –private equity, infrastructure funds etc…- to drive the transactions market in 2015."
Transaction Services provides advice on business acquisitions and disposals. We participate in a wide variety of transactions, including acquisitions, splits, mergers or strategic alliances. The main objective of our dedicated group of professionals is to maximise the return on the deals in which they participate, protecting our client’s interests and providing support throughout the process: preliminary strategic assessment, buy or sell-side financial due diligence, business integration or split and other post-deal services such as the improvement of working capital, systems, processes and controls.
Our clients include leading multinationals worldwide, Spanish business groups and family organisations as well as all leading financial institutions and private equity houses. We have a team of professionals devoted to the provision of transaction services and as a leading professional services group, we have the ability to create multidisciplinary teams, comprising professionals who are able to address all the necessary issues, drawing on their specific industry experience: strategic, financial, tax, legal, labour, pensions, environmental, technological and operational expertise.