News
Mergers and acquisitions market remains strong
Merger and acquisition activity has continued its domination of the business landscape in the first half of 2006.
Figures just released by Thomson Financial show that 125 transactions having a value of NZ$5.4 billion were completed in New Zealand in the first six months of this year, a 52% increase on the same period last year.
Thomson's results again place Bell Gully as the top ranked New Zealand law firm advising on M&A deals. In the first six months of 2006, the firm advised on 30 transactions with a total value of NZ$1.88 billion.
Bell Gully partner and corporate department leader Brynn Gilbertson says the bigger M&A picture reflects the firm's own experience over the last six months.
"M&A activity was a dominant feature of the 2005 business environment, particularly in the second half, and the signs were that this would continue into 2006. That has proven to be the case, as the Thomson results show."
Says Mr Gilbertson: "A key driver of recent M&A activity - local and Australian private equity investors - continue to be hungry for good investment opportunities. And given there still appears to be opportunities emerging, we expect the buoyancy to remain.
"While trans-Tasman investors and corporates remain the major players in New Zealand, we are also seeing a gradual increase in interest in Australasia from Europe and the United States. How much of an influence these markets will have on future New Zealand M&A activity will be something to watch with interest."
Among the deals on which Bell Gully has advised in the last six months are:
- Pacific Equity Partners' acquisition of Griffin's Foods from Danone Asia and Tegel Foods from HJ Heinz Company of the US.
- The amalgamation of Waste Management N.Z. Limited with Transpacific Industries Group.
- The takeover of Carter Holt Harvey by Rank Group.
- US company Valero Energy Corp's sale of its Australasian bulk storage terminals business to ANZ Terminals Pty. Ltd.
For more information, please contact:
Brynn Gilbertson
Partner
Josephine Gallagher
Communications Manager
Bell Gully
64 9 916 8664 or 021 190 3185
