Awards for Excellence 2013: Best Emerging markets M&A house
Debt execution, diverse mandates and an efficient global network boost the firm’s famed M&A franchise.
Best Emerging markets M&A house: Goldman Sachs
Also shortlisted: Citi, Credit Suisse and Deutsche Bank
Since emerging markets M&A is a relatively capital-light business, the competition between global investment banks for a piece of the action remains fierce, even as many international banks are forced to reassess the value of maintaining on-the-ground sales and trading operations.
What’s more, with slower global growth, softer commodity prices, macro volatility, and the effects of quantitative easing inflating equity prices – vexing corporate valuations – M&A deal volumes have been challenged in both developed and developing markets.
Nevertheless, emerging market deal volumes continue to constitute around a third of the global M&A market – compared with under 10% a decade ago – and plenty of companies from the Gulf and Asia, in particular, demonstrated their financing firepower power and appetite for deals over the past year.