Focus on cross-border deals with China

Transcription

1 Focus on with China KPMG Deal Activity Update 2017 Analysis Deal Advisory Corporate Finance DRAFT

2 ,854 5,048 5,712 5,562 5,886 5,728 6,758 7,631 7,955 KPMG Deal Activity Update Snapshot overview of the M&A market in 2017 number of deals delta 19,337 18, % Europe , ,955 7, % % deal value in bn delta 2,830 2,952 (4.1)% % (41.9)% Total no. of deals Netherlands in bn Total no. of deals in bn 2

3 KPMG Deal Activity Update Cross border deals Dutch targets and buyers number of deals Dutch companies acquired by non-dutch buyers deal value in bn Dutch companies acquired by non-dutch buyers EU N-America Asia ROW import / export Dutch companies sold and non-dutch companies acquired Net import (3) (15) (16) (31) (54) Non-Dutch companies acquired by Dutch buyers Dutch companies acquired by non-dutch buyers EU N-America ASIA ROW The Netherlands continues to be an attractive place for foreign investors, underlined by the increasing number of transactions whereby a foreign (non-dutch) buyer acquires a Dutch company ( export ). North-American buyers generally acquire the largest companies in the Netherlands when considering the total deal value 1. One can see that buyers from Asia and other parts of the world ( ROW ) account for a relatively small portion of the Dutch cross-border deal activity, both in terms of deal volume and deal size. Looking at the bottom left graph, it can be observed that Dutch companies are increasingly attractive for foreign investors, 2017 witnessed 248 export transactions, versus 194 import transactions in which a Dutch company acquired a non-dutch target, resulting in a net export of 54, the highest in nine years. Note 1: 2016 includes the initial Qualcomm NXP takeover bid of 42 bn 3

4 KPMG Deal Activity Update China s involvement in Dutch total Dutch deals geography of buyer and target geography of buyer of a Dutch target geography of target acquired by Dutch buyer 248 Export 146 EU 126 EU 272 Local 55 US 29 US 35% 38% 194 Import 714 Total 59% 22% 2% 4 China 43 Other 248 Total export 17% 65% 15% 20% - China 39 Other 194 Total import 27% Holland-China connection 2017 witnessed four cross-border transactions with China Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Leiden Medical devices n/a Strategic Firion Investments Emmeloord Waste management n/a Financial 3 4 Nijmegen Semiconductors 1,147m Financial Metal business NCCL Investment Fund Rotterdam Natural resources 380m Financial 4

5 KPMG Deal Activity Update Development of cross-border activity in the Netherlands total Dutch deals geography of buyer and target geography of buyer of a Dutch target geography of target acquired by Dutch buyer Local Import Export There were 714 Dutch deals recorded in 2017, the highest number in five years. Of those 714 transactions, 272 involved a Dutch buyer and a Dutch target ( local transactions) and 442 transactions where crossborder deals. Looking at the specific countries that are involved in Dutch crossborder deals, the US has been the most active as foreign acquirer of Dutch companies in 2017, followed by the UK, Belgium, France and Germany (not depicted). China has not been very active in acquiring Dutch companies, only accounting for four transactions in Other China US EU about >8,200 Deal professionals A selection of recent accomplishments include: Other China US EU 170 Offices globally 84 Countries In the Netherlands our practice consist of 200 professionals and we serve a broad clientele of listed and private corporate clients, financial investors, as well as governmental institutions. The Netherlands has not been an active buyer of Chinese companies, no transaction was recorded that involved a Chinese target and a Dutch buyer in acted as the exclusive financial advisor to the management of Ampleon on the sale of the company to Aurora Optoelectronics LNG Solutions acted as exclusive M&A adviser to ENGIE LNG Solutions on the sale of the company to Rolande LNG acted as the exclusive financial advisor to the shareholders of Nooteboom Textiles on the sale of a majority stake in the company to Egeria acted as exclusive deal adviser to Abird and its majority shareholder NPM Capital on the sale of the company to Boels acted as exclusive financial adviser to FRISS in attracting series-a growth capital from Aquiline Technology Growth and BlackFin Capital Partners acted as the exclusive financial adviser to the shareholders of QSight IT Holding B.V. on the sale of the company to Royal KPN N.V. Pending February 2018 January 2018 December 2017 December 2017 For more info please contact: Danny Bosker Partner, bosker.danny@kpmg.nl, phone: +31 (0) December

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