Sharing deal insights - European Financial Services M&A - Data card, September 2013

In this edition we review deal activity during the first half of 2013, which increased by 25% from the same period in 2012 to reach a total value of €28 bn.

One key finding is that banking rescue transactions in Greece, the Netherlands and Spain were among the period’s largest deals. This illustrates the continuing – and uncomfortably close – links between banks and governments across Europe.

Set against that, the period also saw the announcement of some major asset management and insurance transactions. Several of these were cross-border transactions, involving bidders from markets as varied as Japan, China, Germany, Canada and Qatar. The strategic rationales for these transactions include the search for growth, a need for diversification and the desire for greater technical expertise.

Some of the other themes identified in the current edition include: The attractions of Turkish financial services; the unwinding of banc assurance structures in Spain; increasing private equity activity and growing consolidation among UK asset managers.