Deals in Greece 2016

Disposal of non-core assets by systemic banks

 

Apart from the liquidation of non-core assets of the systemic banks, 2016 was another year of very low M&A activity

In 2016, 38 M&A deals of €4.4bn total value were completed, almost triple compared to 2015, of which the five largest reached €3.8bn.

The economic uncertainty persisted in 2016 with the privatisation program delayed and the second assessment not completed as expected.

Key points:
  • Greek companies in 2016 attracted in total €4.4bn, of which 75% referring to sales of non-core assets from the systemic banks, as well as €1.6bn through international tradeable corporate bonds
  • 152% was the increase of the average deal size from 2015 to €116mn in 2016
  • Privatisation revenues recorded a small rise during 2016, reaching €500mn with a target of €1.3bn
  • The economic climate in Greece will remain stable for the Greek M&As during 2017, however there could be an improvement in 2018

PwC was the leading global M&A financial advisor in terms of deal volume and the third M&A financial advisor in Europe in terms of deal value in mid cap transactions (<$250mn).

 


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