Citi is first in M&A.
Athens, March 16, 2009.
Citi was ranked 1st in M&A in EMEA for the first months of 2009, according to research of Thomson Reuters. Moreover, Citi was also ranked in the top 3 firms at a global level.
More specifically, the 5 biggest deals in which Citi had advisory credit were European. Citigroup advised the U.K. government on two rights offerings valued at $27 billion that contributed to the nationalization of the Royal Bank of Scotland Group. It also advised Spanish power producer Endesa on its $14.2 billion acquisition by Italy’s Enel and the Dutch power company Essent on its $12.4billion acquisition by Germany’s RWE. The biggest deal of all was advising Pfizer on the takeover of Wyeth of $68billion.
Citi in Europe and globally has participated in a smaller number of M&A transactions but of a higher value, which ranked the company first in these categories, without necessarily having a lending position with the specific companies. It is important to notice that the deal pie has
shrank 20% from the same time in 2008, while Citi’s position has significantly improved, as last year it was in the 5th place.
Indicative headlines from international media report:
1) WSJ Deal Journal: Citigroup’s Troubles Don’t Distract Its Investment Bankers
2) DealBook - In M&A, at Least, Citi Is on Top
3) BusinessWeek: Citi: No. 1 Dealmaker
4) Financial News Online: Citigroup tops M&A league tables despite woes
5) Dow Jones: Fingers Crossed: Cap Mkts Ops Improve At Citi, Other Banks (Feb 25)
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EMEA Target Announced M&A Ranking |
Advisor |
Value ($mil) |
Rank |
Share |
Deals |
Citi |
62.118,1 |
1 |
54,4 |
9 |
Deutsche Bank AG |
61.359,1 |
2 |
53,7 |
12 |
Morgan Stanley |
41.448,4 |
3 |
36,3 |
16 |
Source: Thomson Reuters
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