Press Release - Mergermarket

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European M&A Overview In line with the global trend, European M&A decreased - in terms of both deal value and number of deals - over the second half of 2011, and the decline in Europe was more pronounced than in other major regions. Q4 2011 saw US$ 116.3bn-worth of deals, a 28.7% decrease from the previous quarter (US$ 163.1bn in Q3), and a 52.4% decrease from the same period the previous year (US$ 244.3bn). The second half of 2011 saw US$ 279.4bn-worth of deals, a total M&A value 33.2% lower than the first half (which saw US$ 418.5bn-worth). The majority of the larger European countries showed a decline of 50% or more in M&A activity by value in Q4 2011 compared to the previous quarter. Whilst this was not unexpected in some of these countries (such as Ireland down 95% to US$ 820m, Spain down 61.6% to US$ 8.6bn and UK down 44.6% to US$ 21.4bn) due to the current market conditions, some other decreases were more surprising with Russia down by 31.3% (to US$ 13.7bn), Germany by 48.5% (to US$ 4.5bn), Turkey by 13.3% (to US$ 2.6bn) and Poland by 26.3% (to US$ 2.9bn). Europe finished the year with a higher total M&A value than 2010, a total of US$ 697.9bn for the year compared to US$ 665.9bn for 2010. Northern Europe, and a few of the Western European countries, had a better year for M&A in 2011 than in 2010, during which the Nordic countries saw a 70.8% increase to US$ 69bn-worth of deals. France, Ireland, Spain and Poland saw similar jumps of 47.9% (to US$ 71.7bn), 57.4% (to US$ 20.5bn), 169.3% (to US$ 81.2bn) and 88.1% (to US$ 22.7bn) respectively. The poor M&A totals in H2 2011, however, affected many other European countries with Portugal down 16.3% (to US$ 3.8bn), Austria 69.6% (to US$ 3.9bn), Italy 54.3% (to US$ 36bn), Turkey 43.6% (to US$ 12.6bn), the Netherlands and Belgium both down around 40% (to US$ 18.9bn and US$ 19.5bn respectively) and Greece down 30.5% (to US$ 3.4bn). Goldman Sachs and Morgan Stanley held onto their top rankings in the European M&A financial advisory tables by total deal value. Goldman Sachs worked on seven of the ten largest deals in Europe for 2011. Value of Deals (US$bn) 130 120 110 100 90 80 70 60 50 40 30 20 10 0 Value (US$bn) Volume European Private Equity Buyout Activity - Quarterly 400 375 350 325 300 275 250 225 200 175 150 125 100 75 50 25 0 Volume of Deals Value of Deals (US$bn) Value of Deals ($bn) 600 550 500 450 400 350 300 250 200 150 100 50 0 150 140 130 120 110 100 90 80 70 60 50 40 30 20 10 0 Value (US$bn) Volume Inbound Value ($bn) Outbound Value ($bn) Inbound Volume Outbound Volume European M&A Activity - Quarterly European Inbound/Outbound M&A Press Release: mergermarket M&A Round-up for Year End 2011 16 www.mergermarket.com 1,800 1,700 1,600 1,500 1,400 1,300 1,200 1,100 1,000 900 800 700 600 500 400 300 200 100 0 300 275 250 225 200 175 150 125 100 75 50 25 0 Volume of Deals Volume of Deals
European M&A Overview : Industry and Geography Breakdown Mix of Announced European Deals by Geographic Region 2011 - Value Central & Eastern Europe 15.7% Nordic 9.9% Benelux 8.3% Iberia 12.2% South Eastern Europe 2.6% Italy 5.2% UK & Ireland 20.4% France 10.4% Germanic 15.3% Y/E 2011 Y/E 2010 Change Sector Value ($bn) market share Deal count Value ($bn) market share Deal count Value (%) Deal count Energy, Mining & Utilities 159.1 22.8% 393 158.1 23.7% 381 0.6% 12 Industrials & Chemicals 120.5 17.3% 1,153 113.0 17.0% 969 6.7% 184 Financial Services 116.0 16.6% 394 70.1 10.5% 444 65.5% -50 Consumer 70.6 10.1% 799 61.8 9.3% 745 14.3% 54 Pharma, Medical & Biotech 59.0 8.4% 310 65.5 9.8% 322 -10.0% -12 Telecommunications 38.5 5.5% 66 52.5 7.9% 95 -26.8% -29 Technology 38.2 5.5% 432 19.8 3.0% 365 92.7% 67 Business Services 23.4 3.4% 704 33.2 5.0% 621 -29.5% 83 Transport 17.9 2.6% 192 40.2 6.0% 163 -55.6% 29 Real Estate 16.1 2.3% 86 17.9 2.7% 90 -9.8% -4 Leisure 14.2 2.0% 209 12.8 1.9% 189 10.8% 20 Media 11.7 1.7% 186 7.1 1.1% 151 64.2% 35 Construction 10.3 1.5% 217 10.1 1.5% 236 2.7% -19 Agriculture 1.5 0.2% 53 2.7 0.4% 50 -46.2% 3 Defence 0.9 0.1% 10 1.1 0.2% 17 -19.1% -7 Total 697.9 5,204 665.9 4,838 4.8% 366 Mix of Announced European Deals by Geographic Region 2011 - Volume Central & Eastern Europe 11.4% Press Release: mergermarket M&A Round-up for Year End 2011 17 www.mergermarket.com Nordic 13.7% Benelux 9.3% South Eastern Europe 3.6% Iberia 6.4% Italy 5.6% Other 0.2% France 12.4% UK & Ireland 21.1% Germanic 16.4%
Page 1 and 2: PRESS CONTACTS EMEA: Flora Wilke Am
Page 3 and 4: Global M&A Overview Global M&A for
Page 5 and 6: Global M&A Overview: Top Deals Acti
Page 7 and 8: Global M&A Overview: Private Equity
Page 9 and 10: Global M&A Overview: Emerging Marke
Page 11 and 12: Global M&A Overview: Deal Type / De
Page 13 and 14: Global M&A Overview: Demerger Globa
Page 15: Global M&A Overview: League Tables
Page 19 and 20: European M&A Overview: League Table
Page 29 and 30: US M&A Overview After a strong firs
Page 31 and 32: US M&A Overview: Top Deals Activity
Page 33 and 34: Americas: League Tables of Financia
Page 39 and 40: Asia-Pacific (ex. Japan) M&A Overvi
Page 41 and 42: Asia-Pacific M&A Overview: Top Deal
Page 43 and 44: Asia-Pacific M&A Overview: League T
Page 49 and 50: Africa & Middle East M&A Overview D
Page 51 and 52: Africa & Middle East: League Tables
Page 53: Contact: Europe: Flora Wilke flora.

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