Major increase in mergers and acquisitions in Greece last year

Major increase in mergers and acquisitions in Greece last year

There were 28 mergers and acquisitions in Greece last year, representing a 27 percent rise in the number of deals and 33 percent annual growth in value, which added up to $1.77 billion in total, according to Ernst & Young’s M&A Barometer.

Its latest report, which covers 11 countries in Central and Southeastern Europe (Greece, Bulgaria, Croatia, Hungary, Poland, Romania, Serbia, the Czech Republic, Slovakia, Slovenia and Turkey) recorded a total M&A value of $43.1 billion in 2015, showing a 12 percent increase from 2014 despite the 1.8 percent drop in the number of deals.

The report further showed that two out of the 10 biggest buyouts in the region last year took place in Greece.

Once again, Turkey saw the lion’s share of M&As, attracting the highest number of deals (312) worth the greatest total amount ($10.8 billion) in 2015. Poland and the Czech Republic followed.

Greece was second in terms of growth in the total value of M&A deals (33 percent), behind Serbia, which saw its total soar a staggering 315 percent. Turkey, Croatia, Bulgaria, Slovenia and the Czech Republic recorded annual declines.

The sectors with the greatest M&A activity last year in Greece were financial services and information technology, while the countries with the largest presence in the Greek M&A market were the UK and Austria, with four and two deals respectively.

The head of Ernst & Young Greece’s Financial Consultants Department, Tasos Iosifidis, commented that “the trend we see in Greece is toward growth. If the bailout review is successfully completed soon and investment sentiment improves, we expect to see more M&As” in the coming months.

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