The $3.3 billion buyout of Getty Images by Carlyle Group LP pushes the volume of private equity-backed M&A activity in the United States to $78.1 billion for year-to-date 2012, an increase of 8% compared to last year at this time. Energy & power buyouts account for 18% of US private equity-backed M&A activity this year compared to 14% during year-to-date 2011, while media & entertainment and industrial companies account for 17% and 15%, respectively. US buyouts in the telecommunications, industrials, media and retails sectors have registered greater than triple-digit percentage gains compared to last year at this time.
Goldman Sachs tops the ranking of financial advisors for US PE-backed M&A deals this year with 32 deals valued of $30.3 billion. Credit Suisse follows in second place, up from 14th during year-to-date 2011.
European Telecom M&A Increases 10% over 2011
Altimo Cooperatief's acquisition of an additional 15.5% stake in VimpelCom Ltd, an Amsterdam-based provider of wireless telecommunications services for $3.8 billion, brings the value of European telecommunications M&A to $28.3 billion, an increase of 10% compared to year-to-date 2011. Telecom deal making in Russia, the Netherlands, Austria and Ireland accounts for 80% of activity in Europe so far this year. Worldwide M&A activity in the telecom sector totals $53.3 billion, a decline of 35% compared to the year ago period.
Deutsche Bank retains the top spot for European telecom M&A financial advisory assignments so far this year, with six deals valued at $14.6 billion. Goldman Sachs takes the second spot with $12.1 billion from seven deals. The firm ranked 10th during year-to-date 2011 in the European telecom sector.
IPO Fall-Off Drags Asia Pacific ECM Down 32%
Asia Pacific equity capital markets activity totals $100.5 billion for year-to-date 2012, a decline of 32% compared to the same time past year. With this week's $647.5 million follow-on offering from Hong Kong-based Swire Properties Ltd, the volume of Asia Pacific follow-on offerings total $66.3 million so far this year, down 8% from year-to-date 2011. Follow-ons account for 66% of overall ECM activity in Asia Pacific this year, compared to 48% last year at this time. IPO activity, which totals $25.9 billion, accounts for 26% of issuance this year, down 56% from a year ago.
Goldman Sachs leads the ranking of Asia Pacific ECM bookrunners with $7.7 billion from 34 offerings, or 7.6% of the market this year. UBS and Citi round out the top three bookrunners.
Reproduced with kind permission from Thomson Reuters