M&A activity at €4.1 bln during 2020

M&A activity at €4.1 bln during 2020

Greek enterprises attracted 6 billion euros in 2020, of which €4.1 billion was in mergers and acquisitions, €1.7 billion in corporate bonds, €45 million in privatizations and €600 million in transactions of nonperforming loans from Greek banks, PwC said in its annual report on mergers and acquisitions in Greece for 2020.

The report showed that the number of M&As in Greece fell by 31% in 2020 compared with the previous year, but the average value of transactions rose by €19 million over the same period, indicating a shift toward larger transactions.

Despite the adverse economic conditions, 10 transactions involving large capitalization (more than €100 million) were completed in 2020, from eight in 2019, with foreign investors participating in eight of them. The number of incoming transactions fell by 22, but their value grew by an average €46 million. Domestic transactions grew slightly in number but their value doubled in 2020.

The TMT sector (telecoms, media, technology) was the most active in 2020 with 14 transactions, followed by the energy sector with nine transactions.

PwC said it expected the value of transactions to exceed €2 billion this year.

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