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Record Year For Offshore Mergers And Acquisitions

by Jason Gorringe, Lowtax.net, London
27 February, 2015

The latest edition of Appleby's Offshore-I report shows that offshore merger and acquisition (M&A) activity and Initial Public Offering (IPO) activity in major offshore financial centers increased by 63 percent in 2014.

In the fourth quarter of 2014, Guernsey experienced a massive 774 percent increase in cumulative deal value when compared to the previous quarter and a 444 percent increase in deal value when compared to the same quarter one year ago.

The jump in value was due in large part to the quarter's only two megadeals - defined as deals valued at more than USD5bn - each involving a Guernsey target. They included British life insurer Aviva announcing its intention to acquire 100 percent of rival Friends Life Group for USD8.2bn, and Pershing Square, the Guernsey trusts and funds group, announcing a planned USD6.2bn Initial Public Offering (IPO) on the Euronext exchange in Amsterdam.

Cameron Adderley, Partner and Global Head of Corporate at Appleby, said: "When looking at the year as a whole, 2014 saw 2,687 deals with an aggregate deal value of USD277bn, making it by far the best year for offshore-targeted M&A for the past decade."


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