Wales a Winner in Value of Acquisitions and Mergers; Only Part of UK Figures Were Positive

Western Mail (Cardiff, Wales), September 6, 2008 | Go to article overview

Wales a Winner in Value of Acquisitions and Mergers; Only Part of UK Figures Were Positive


Byline: Sion Barry

WALES bucked the UK trend in the first half of this year by recording a rise in the value of corporate merger and acquisitions deals, according to new figures from Experian.

While the number of mergers and acquisitions in Wales was down in the first half of this year compared with the same period in 2007- from 102 to 85 (a fall of 17%) - it was the only part of the UK to see an increase in the total value of its deals.

The 85 mergers and acquisitions there were no flotations were worth pounds 2.7bn, compared to pounds 774m in the first half of 2007.

This represented an increase of 258%. The biggest fall in value was reported in the north-east of England which was down 86%.

In London deals were down in number from 1,189 to 754 (a fall of 36%) and in value frompounds 123bn to pounds 59bn However, the increase in Wales was heavily influenced by the sale of medical sales firm. Convatec - which has operations in Rhymney and Deeside - for pounds 2bn, in May.

The wound-care business was sold by US pharmaceutical company Bristol-Myers Squibb to Avista Capital Partners and Nordic Capital.

Another significant deal was Henderson Global Investors' pounds 364.5m acquisition of designer outlet McArthurGlen, which had centres in Chester, Swindon and Bridgend.

According to Experian company Corpfin,which specialises in the provision of corporate financial information for the UKand theRepublic of Ireland, therewere 2,972 deals. This represents a decline of 10.4%compared to 3,316 recorded in the first half of 2007.

The total value of deals fell to pounds 126bn, compared to pounds 281bn in 2007. …

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