While globally the total number of M&A (mergers and acquisitions) deals continues to fall in 3Q of 2020, the number of the largest and most complex deals (with disclosed values of USD 5 billion or more) have skyrocketed. Not since 4Q of 2015 have so many large deals been announced, writes Mergermarket, the leading provider of M&A data and intelligence in its recently published report.

In the meanwhile, dealmakers in Europe have started to see a recovery in the M&A market with a number of high-profile deals announced in 3Q of 2020 after several months of low activity. While higher-valued deals have started to rise, the small and mid-market has remained low, adds Mergermarket.

Technology M&A booming

Technology M&A is the most active sector by value so far this year. In total USD 85.1 billion has been spent in the European technology sector in 2020 across 769 deals.

Our regional M&A team among the busiest in CEE

The Sorainen team ranks 2nd in the Mergermarket’s M&A legal advisors CEE league table by deal count, right after the White & Case team. The deals advised by our M&A experts in 2020 include, among others:

  • Advising telecommunications company Bitė on signing an agreement with the Lithuanian Radio and Television Centre (Telecentras) on the acquisition of Telecentras‘ internet, data transmission and IPTV business under the Mezon brand.
  • Advising Bolt, the leading European transportation platform, on a EUR 100 million investment agreement with London-based investment firm Naya Capital Management. This deal boosts the value of Bolt to 1.7 billion euros.
  • Advising AMC, the world’s largest movie exhibition group, in the sale of Forum Cinemas, which operates nine theatre locations in the Baltic countries.
  • Advising KPMG Sweden on their acquisition of KPMG Latvia and KPMG Lithuania as part of KPMG’s international development.
  • Advising Boku, a leading global mobile payment and mobile identity company, in the acquisition of Estonian fintech Fortumo.
  • Advising Fortum Corporation in the purchase by its subsidiary Fortum Heat Estonia who is acquiring a 40% stake in the district heating and cooling group Fortum Tartu from Giga.
  • Advising the founders of domestic logistics service provider NNL LT on acquiring a 44% stake in NNL LT from Litcapital through an acquisition vehicle.
  • Advising investment funds led by Livonia Partners on selling the majority stake in Thermory, a producer of thermally modified wood and sauna materials.
  • Assisting Nitin Shelke, the founder and chairman of Growmore Group, in entering into an agreement for the strategic acquisition of Medicinos Bankas – a retail bank in Lithuania with assets of USD 395 million (EUR 355 million). 

Source: Mergermarket Global & Regional M&A Report 1Q—3Q20 Including League Tables of Legal Advisors