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[Quote of the Week] “Titanic of Kazakhstan’s banking sector…”
Posted on October 2nd, 2009 Comments welcome Share/Save Print“You as a manager of Sberbank of Russia, Mr. Gref, obviously know that any newspaper, regardless of how popular and influential it is, is incapable of shattering the financial position of such a large bank as BTA deems itself. Thus, the current management boggles in an effort to shift the responsibility to our publication. Please buy this ‘Titanic’ of Kazakhstan’s banking sector faster! We’d rather deal with you than with these managers!” Read more »
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Russia-Focused Cross-Border M&A: Russian Companies Have Remained Acquisitive, But 2009 Outlook Is Bleaker
Posted on March 10th, 2009 Comments welcome Share/Save PrintBy Anna Gunning, Senior Account Manager, The PBN Company
Deteriorating market conditions in the second half of 2008 left many companies unable to raise capital and unwilling to undertake anything that could be perceived as a risky investment. However, accountancy firm KPMG’s latest Emerging Markets Acquisition Tracker shows that Russian companies have retained an appetite for cross-border M&A as companies from more developed markets have shied away.
Inward investment starts strong but falls off
In the first half of 2008 - when market commentators still spoke of “decoupling” - companies from developed markets continued to make acquisitions in Russia at a reasonable (albeit reduced) rate. Some of the high-profile deals included PepsiCo’s $1.4bn acquisition of juicemaker Lebedyansky and Barclay’s $745m acquisition of Expobank. With a total of 65 developed market acquisitions of Russian targets in H1 2008, there was a 35% year-on-year increase from the same period in 2007.
Worth a Thousand Words ...
