Monthly M&A Insider - Mergermarket

Europe
Top 15 European announced deals for YTD 31 March 2009
Announced Status Target company Sector Bidder company Seller company Exit multiples (x) Bid premia Deal value
Revenue EBITDA P/E
1-day
before
(€m)
21-Feb-09 P Endesa SA (25.01% stake) Energy, Mining
& Utilities
Enel SpA Acciona SA 2.6 8.2 5.9 65.9% 11,107
12-Jan-09 P Essent Holding (energy Energy, Mining RWE AG Essent Holding - 9,300
generation operations) & Utilities
23-Feb-09 P nv Nuon Energy, Mining
& Utilities
Vattenfall AB 1.8 14.4 20.7 - 8,500
19-Jan-09 C Royal Bank of Scotland Group Financial HM Treasury n/a n/a (loss) -8.5% 5,884
Plc (29.79% stake)
Services
12-Feb-09 P Italgas SpA; and Stogit SpA Energy, Mining Snam Rete Gas ENI SpA - 4,720
& Utilities SpA
7-Mar-09 P Lloyds Banking Group Plc Financial HM Treasury n/a n/a 2.9 -8.5% 4,455
(21.60% stake)
Services
23-Feb-09 P Alleanza Assicurazioni SpA Financial Assicurazioni
n/a n/a 8.9 2.6% 3,640
Services Generali SpA
20-Feb-09 P Endesa SA (renewable energy Energy, Mining Acciona SA Endesa SA - 2,890
generation assets)
& Utilities
31-Mar-09 P Compania Espanola de Energy, Mining International Santander Central
32.1 4.8% 2,870
Petroleos SA (32.50% stake) & Utilities Petroleum
Investment
Company
Hispano SA
30-Jan-09 C Metrovacesa SA (65.43% Real Estate Banco Bilbao
7.1 (loss) (loss) 52.0% 2,601
stake)
Vizcaya Argentaria
SA; Banco de
Sabadell SA;
Banco Espanol
de Credito SA;
Banco Popular
Espanol SA; Caja
de Ahorros y
Monte de Piedad
de Madrid; and
Santander Central
Hispano SA
22-Jan-09 P KBC Group NV (Undisclosed Financial Government
- 2,000
economic interest)
Services of the Flemish
Region
22-Mar-09 C Daimler AG (9.10% stake) Industrials & Aabar Investment
0.7 8.4 14.5 -5.0% 1,954
Chemicals PJSC
30-Mar-09 P ANK Bashneft JSC (56.52% Energy, Mining AFK Sistema Agidel-Invest LLC;
- 1,894
stake); Bashkirnefteprodukt & Utilities
Inzer-Invest LLC;
JSC (54.33% stake); Novo-
Ural-Invest LLC;
Ufimsky Refinery OJSC
and Yuryuzan-
(67.33% stake); Ufa Oil
Refinery JSC (58.59% stake);
Ufaneftekhim OJSC (45.88%
stake); and Ufaorgsintez OJSC
(53.02% stake)
Invest LLC
8-Jan-09 P Commerzbank AG (25% stake) Financial
Services
SoFFin n/a n/a -1.5% 1,770
30-Mar-09 C MOL Hungarian Oil and Gas Energy, Mining OJSC
OMV AG 0.6 6.4 9.9 89.8% 1,415
Public Limited Company
(21.20% stake)
& Utilities Surgutneftegaz
C = Completed; P = Pending; L = Lapsed Source: mergermarket
Monthly M&A report – 88