Off to a fresh start

Legislation is bound to lag behind the market, appearing anachronistic or out of touch with the industry in some cases, having been designed under very different auspices. This is due in large parts to the left shift of the German Government and protectionist thinking in the DACH governments.

Large deals were conspicuously absent before the year's end. This led to some forecasting the end of large deals for the time being, with aggressive financing coming to a temporary halt at least.

However, there have been a number of large transactions in recent weeks: the EUR1.55bn exit by Doughty Hanson; the EUR509m PIPE by Kohlberg Kravis Roberts and Permira; and EQT's secondary buyout of SAG GmbH from Advent International. In size, these stand head and shoulders above a solid and active mid- and small-cap segment. More large transactions are in the pipeline, such as Rutgers Chemicals being sold by Evonik Industries to Triton Partners.

This proves that, while banks are more careful, funding is still available for large deals. The industry is finding ways to work creatively around the challenges that the environment presents, whether legal or economic.

Finally, watch out for the CEE supplement, which will be sent to you via PDF for your convenience. I would like to take the opportunity to mention that the unquote website has undergone a redesign and now offers new functionalities and additional content - the portal's address is www.unquote.com/ and Deutsche unquote" can be found at www.deutscheunquote.com.

Yours sincerely,

Mareen Goebel

Editor, Deutsche unquote"

Tel: +44 20 7004 7462

mareen.goebel@incisivemedia.com.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• DACH