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Report: M&A market fails to live up to expectations

Deals

Despite high hopes for the mergers and acquisitions market, 2014 was a disappointing year, according to the “Emerging Europe: M&A Report”, released today by CMS, AIG and EMIS.

“The number of deals did increase somewhat in 2014; however, deal value decreased significantly," the report said. "As in 2012 and 2013, the Hungarian State and state-owned entities (MNV Zrt., the Hungarian National Asset Management Company; NISZ Zrt., the National Infocommunication Company; and MNB, the National Bank of Hungary) were the most active players on Hungary’s M&A market, completing by far the largest deals of the year."

The two biggest acquisitions cited by the report were the purchase of two banks, FHB and MKB by state entities. The biggest private deal cited was a cash infusion of EUR 45.6 million into Prezi, one of Hungary's most successful tech startups.

“Other state acquisitions involved mainly utilities, as well as manufacturers in ‘strategic industries’, such as the acquisition of Bombardier Transportation MÁV Hungary Kft., related to the railway industry. However, these acquisitions were not driven by market opportunities, but by economic and political considerations” the report says.

The following is a table taken from the report.

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