ISSUE 4 | 2021
22
KEY DEALS The region’s top 10 mid-market deals totalled USD 4.03bn, representing 28.5% of the volume of all quarterly transactions. The biggest deal took place in the TMT sector and saw the acquisition of Coriolis Telecom S.A.S., a virtual mobile network operator, by French TMT company, Altice France SA, for USD 486m. The second biggest was the acquisition of the assets of Iberian shipping company Compania Trasmediterranea S.A by Italian shipping company Grimaldi Group SpA, for USD 443m. In third spot was an Industrials & Chemicals deal that involved the PE acquisition of a 66.74% stake in Reno De Medici S.p.A., a forest products company and the second largest European producer of coated recycled cardboard, by American asset manager Apollo Global Management LLC, for USD 433m.
Finally, another notable deal saw the acquisition of a 60% stake in Etro SpA, one of the last big family-owned luxury clothing brands, by French PE group L Catterton Europe, for USD 354m. The top 10 deals were spread across several sectors, with Industrials & Chemicals and TMT leading the way with three deals each. The targets in the top 10 were distributed across three countries, with four Italian targets and three targets for both Spain and France. Cross-border transactions comprised the majority of the quarter’s top 10 deals, with European companies involved in eight of the top 10. While the acquiring nations were varied, US and French companies led the list of acquirers with two deals each.
CRISTINA DIAS PARTNER
cristina.dias@bdo.pt
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