Welcome to the newest edition of the Wolf Theiss Corporate Monitor's M&A spotlight on CEE/SEE.
As in previous years, the Wolf Theiss Corporate Monitor provides an in-depth survey of the current and prospective M&A environment in Central, Eastern and South-Eastern Europe ("CEE/SEE"). Together with Mergermarket, we have analysed the M&A environment in 2017 and the outlook for 2018 in each of the countries that make up the region, with a focus on six key sectors. In order to shed more light on statistical trends and to correlate them with actual experiences in completing deals, we have interviewed dealmakers from a range of industries as well as private equity firms who are routinely involved in regional corporate acquisitions. Although we saw a slower year for M&A activity in the region compared to 2016, our survey shows growing confidence for the year ahead. An estimated GDP growth of 2.5% for 2017 outpaces Western Europe, North America, and mature markets in Asia. Meanwhile, political and economic environments remain conducive to business. A predicted growth rate of 2.6% in 2018 would appear to support dealmaker confidence. Infrastructure continues to improve, further strengthening the region's geographical advantages. EU membership has proved a boon for those that have joined, and an incentive for reform for candidates such as Serbia. This optimism is reflected in our survey, with the overwhelming majority of investors saying that their recent experience in the region has strengthened their appetite to conduct transactions in the CEE. While the region has a distinct profile for investors, opportunities vary from industry to industry. The Corporate Monitor accordingly takes a new sector focus in the second part of the report, analysing the key factors that affect M&A deals on an industry-specific basis. We hope you will enjoy reading the Wolf Theiss Corporate Monitor's M&A Spotlight on CEE/SEE and that it will provide you with practical guidance in evaluating the potential for completing deals in an increasingly competitive region. Kind regards, Horst Ebhardt Wolf Theiss Tel: +43 1 515 10 5100 Email:
Horst Ebhardt Wolf Theiss