PwC continues to lead the market for financial advice in mergers and acquisitions in 2015, for the fourth 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 115 operations, ahead of KPMG (77), Deloitte (54), E&Y (38), Goldman Sachs (15), Morgan Stanley (14) y Eurohold (14), according to the figures published by Thomson Reuters.
According to Mergermarket, PwC provided advisory services in 2015 on a total of 58 closed deals, compared with 44 by Deloitte, 41 by KPMG, and 31 by E&Y. These were followed by BDO with 15 and Rothschild 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.
According to Dealogic, PwC also heads its ranking in number of deals:
PwC stands out for its role as advisor in the real estate sector, having advised the most significant transactions in the Spanish market, for example, the acquisition of Neinor by the international fund Lone Star for 930 million euros; the purchase of Plenilunio shopping center in Madrid by the French fund Klépierre, for 375 million euros; the Hotel Ritz's purchase by the asian chain Mandarin Oriental, worth 130 million euros or the purchase of Puerto Venecia shopping center in Zaragoza ,by the canadian Pension Plan Investment Board fund, for 255 million euros. PwC has also been particularly active in advising on the sale of the portfolio of real estate holdings of Bankia, as part of the restructuring plan of the bank which includes the divestment of unprofitable assets and non-strategic holdings .
Other sector where PwC has been present is the financial sector, advising on the sale and purchase of failed debt portfolios . PwC also stands out in Energy, Health, Consumer Affairs, sectors that make the market dynamic. Here are included the participation of PwC in the investments and divestments of Cepsa, such as the sale of the PTA plant of Cepsa Química Montreal (Canada) and Cepsa Chemical plant of Guadarranque in Cadiz to the Thai company Indorama; the acquisition of British - Irish company Encirc by Vidrala. PwC has also counseled to Miura in selling Gescobro and has been part of the Panrico acquisition by Grupo Bimbo. Polibol purchase by Saica or acquisition of Nuter by Royal de Heus, have been other of the transactions where PwC has been involved.
Malcolm Lloyd, partner in charge of PwC Transactions in Spain, Europe, Middle East and Africa comments: "We hope a continued dynamism in market transactions in 2016 due to the improved economic environment, the interest of international investors in Spain and consolidation operations being carried out in some sectors such as distribution and consumption. Moreover, there will be an important activity in the financial, real estate and energy sectors."
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.