Deal values increase year on year

The value of deals targeting Western European countries rose by 62 per cent in the last year, according to M&A database Zephyr. A combined total of €58.3bn was recorded in April 2011, compared with €36bn in April 2010.

But higher company valuations are leading to volumes of deals falling – indeed, volume fell 31 per cent over the 12 months. 

Out of the Western European countries, France led by value with a total of €17.9bn worth of deals, accounting for 31 per cent of the month’s total of €58.3bn. But France was placed second in terms of volume behind the UK, which had a total of 323 deals (France had 105).

The value of PE and VC investment in Western European companies rose for the second consecutive month in April to €5.9bn, representing a 61 per cent increase from €3.7bn in April 2010 and a 24 per cent improvement from €4.8bn in March.

There were seven deals worth more than €1bn in April, the largest of which was an announced rights issue by Commerzbank. The German commercial lender is planning to raise €8.3bn via a share subscription which is to complete in June. There was no PE deal worth over €1bn in April.

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