Wish you were here?

Article Abstract:

The outlook for the merger and acquisition (M&A) market in Portugal is linked to factors including the consolidation of the country's banking industry and the success of the privatisation programme. There are some doubts over the benefits of future privatisations, since many of the country's higher quality firms have already been sold off. M&A activity is also likely to be hit by the growing interest in emerging eastern European countries with their lower labour costs. However, Portugal has seen a rise in management buyouts as conglomerates divest non-core assets.

Economic aspects, Portugal

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Are prices out of control?

Article Abstract:

Some venture capitalists in the United Kingdom are concerned that excessive prices are being paid for acquisitions in deals which could be highly vulnerable to rising interest rates or declining performance. Some believe that the easy availability of debt finance and venture capital is starting to affect the pricing of deals below 50 million pounds sterling as well as those above. The level of failures is expected to increase during 1997-2002. The UK venture capital sector is also expected to consolidate due to competition.

Capital Management-Venture Capital, Management, Prices and rates, Venture capital companies, Venture capital

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Big deals still in vogue

Article Abstract:

There were 312 corporate buyouts in the UK in 1996, from 330 in 1995. The value of these deals was 3.6 billion pounds sterling, from the record 5.8 billion pounds sterling achieved in 1995. The largest deal was the buyout of Inchcape Testing Services, worth 380 million pounds sterling. A problem is now emerging with finding businesses with sufficient potential to justify increasingly high buyout prices.

Management buyouts, 1996 AD

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