Deals in Greece 2017

One more year of low investment activity mainly driven by the disposal of non-core assets by the systemic banks

Our key findings

  • Greek companies attracted in total €5.5bn, of which €1.9bn were raised through traded corporate bonds, €1.6bn account for plain vanilla M&As, just €251mn for share capital increases covered by strategic investors and €1.7bn through privatisation proceeds
  • 36 M&A deals of €1.6bn total value were completed, with the top 5 M&A deals accounting for 75% of total deal value
  • Average transaction value of M&As remained almost stable compared to 2016, excluding Finansbank deal of €2.8bn in 2016
  • Disposal of non-core assets by the banks is the main phenomenon, accounting for 49% in terms of deal value
  • Share capital increases in 2017 were limited, amounting to €251mn

The picture in 2017 is dominated by Financial Services

The dominant sector in terms of deals value continues to be the Financial Services, followed by Energy, Industry, Pharmaceuticals, Technology and Services. Minority holdings account for 25% of the 2017 deals value.

Forced deals which include disposals of non-core assets, privatisations, as well as distressed deals, have been the main market driver during the crisis

Regular M&A activity is averaging €911mn over the last three years, where forced M&A activity is averaging €2,340mn over the same period.

PwC is the leading global M&A financial advisor and the fourth M&A financial advisor in Europe

Source: MergerMarket

Contact us

Olympia Liami

Manager, Advisory, PwC Greece

Tel: +30 210 6874458

Penelope Kourkafa

Director, Marketing & Communications, PwC Greece

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