DEAL DIARY: M&A from around the world
Acquisition International’s H1 round up of M&A activity in the Real Estate sector with data from Zephyr, published by Bureau van Dijk The combined value of real estate transactions climbed during the second half of 2013, while volume skyrocketed, according to data from Zephyr, the M&A database published by Bureau van Dijk. In total there were 2,390 deals with an aggregate value of USD 89,154 million over the period from July to December 2013. So far, 2014 appears to be struggling to keep up with the high standard set at the end of last year in terms of both volume and value. To date there have been 1,590 transactions worth a combined USD 72,451 million, meaning that a few blockbuster deals may need to take place in order for values to surpass the USD 89,154 million notched up in H2 2013. Volume looks even less likely to reach the levels of H2 2013, when 2,390 deals were signed off. However, even if the necessary surge in deal values does not occur over the course of the coming month, the USD 72,451 million recorded would still represent the second-highest value since H2 2009 and higher than any period in 2010, 2011 or 2012. As far as real estate investment value goes, the Far East and Central Asia comes out well ahead of the pack for the year to date. So far there has been investment of USD 31,670 million in the region, compared to USD 21,800 million for Western Europe and USD 7,253 million for North America. The result is further highlighted by the fact that the Far East and Central Asia could only place third by volume on 440, surpassed by Western Europe on 452 and Eastern Europe on 545, thereby highlighting the importance of deal values and suggesting that higher individual considerations are the reason for the impressive showing. In conclusion, although the first five months of 2014 are by no means a disaster, investment levels do not look likely to reach the same heights as in H2 2013. However, the possibility of a few, or even one, high value deal changing the picture at the last minute is always a consideration.
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NUMBER AND AGGREGATE VALUE (MIL USD) OF REAL ESTATE DEALS GLOBALLY: 2006 - 2014 YTD (as at 31 May 2014) Deal half yearly value (Announced date) H1 2006 H2 2006 H1 2007 H2 2007 H1 2008 H2 2008 H1 2009 H2 2009 H1 2010 H2 2010 H1 2011 H2 2011 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 TD
Strategy
Number of deals 1,318 1,478 1,661 1,747 1,745 1,633 1,792 2,032 1,864 1,670 1,623 1,820 1,528 1,731 1,733 2,390 1,590
Advisory
Aggregate deal value (mil USD) 66,323 95,461 158,657 123,343 84,191 58,022 62,250 90,979 57,107 51,209 53,885 45,358 45,108 54,391 56,104 89,154 72,451
Utility
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Acquisition International | June 2014 | 97