Brexit to boost European corporate carve-out activity, says Aurelius

A total of 51% of the 200 advisory and corporate respondents believe the volume of corporates looking to divest European assets will be higher this year, with a majority putting this down to the UK's vote to leave the EU. This is up from 43% in last year's survey.

The main reason for selling, according to 65% of respondents, will be uncertainty over the UK's Brexit negotiations, leading firms to refocus on core activities. By contrast, the second most common motivation, which said firms would be mainly divesting to free up capital, had only 11%.

The UK would see the highest level of corporate divestment, 33% of respondents said. While this is the highest of any region, it is down significantly compared with last year's 47%.

The most active buyers of corporate assets are likely to be turnaround and special situations investors, 45% of respondents said, followed by traditional financial sponsors and trade buyers.

Sectors-wise, the industrial space is expected to see the most divestments, 32% of respondents said, followed by pharmaceuticals and life sciences at 11% each.

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• Brexit