CEE's best bank for advisory 2020: Citi
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CEE's best bank for advisory 2020: Citi

Awards for Excellence 2020

Another brisk year of M&A deal flow in CEE produced a clear winner on the advisory side. The best bank for advisory, Citi, dominated Dealogic’s league tables for the 12 months to the end of March, acting on 17 deals worth $17.7 billion, versus just $9.5 billion for its nearest rival.

The tally included the largest acquisition in the history of Russian retail, the largest Chinese investment in Turkish infrastructure and a series of ground-breaking transactions in central and southeastern Europe (CESEE).

Irackly Mtibelishvily, chairman of CEEMEA CIB, says Citi’s success in Russia – which accounted for more than 40% of the bank’s M&A credit during the awards period – was partly down to timing.

“Sometimes you have years when instead of 25% of your projects maturing, 90% do, which is what happened with us in Russia last year,” he says. “But clearly this is not just luck, it’s all about consistency and client relationships.”

The standout deal in Russia was the $3.2 billion acquisition of hypermarket chain Lenta by Alexey Mordashov’s Severgroup in April 2019.