The promised land

Article Abstract:

Financial analysts believe the advent of European Monetary Union (EMU) together with the continued Asian economic crisis will strengthen the leverage buyout market in 1998. EMU will encourage investors to take greater risks in Europe as the market evolves along US lines. Asia's economy crisis may weaken the European market through cheap imports but equity houses may find an increase in the number of failing firms ripe for takeover. Capital markets will overtake bank markets as the choice for private equity transactions.

Analysis, Europe, European Monetary System, Money market, Money markets

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Goldman romps home with global M&A crown

Article Abstract:

A total of 357 deals worth an estimated 909,467 million pounds sterling places financial institution Goldman Sachs at the top of the world wide mergers and acquisitions firms for 1999. The highest number of deals was undertaken by KPMG with 516 completed deals totalling 23,542 million pounds sterling. Goldman Sachs worked on two of the largest deals during 1999, namely SBC Communications $63 billion acquisition of Ameritech and the $79 billion merger between Exxon and Mobil.

Evaluation, Acquisitions and mergers, International trade, Goldman Sachs and Co., Investment advisers, KPMG

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Dining out on the big meal deal

Article Abstract:

State of the art financing methods were used in the leveraged buyout of several food divisions of retail food producer Danone, which cost 425 million pounds sterling in 1997. Paribas Affaires Industrielles (PAI) was the lead arranger of equity investment. PAI were given a long lead time for investment funding, enabling it to choose financing which best suited the deal. Four separate loan types were used in the financial structure, providing 66.7% of the total debt.

Mergers, acquisitions and divestments, Investments, Institutional investments, Leveraged buyouts, Danone S.A. (France), Paribas Affaires Industrielles.

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