M&A Pulse in APAC

The Asia Pacific M&A Newsletter
brought to you by
Natixis, Vermilion Partners and Azure Capital

Issue 3

EDITORIAL

Covid-19 has brought to forefront the immense value-add a strong, well-functioning board can bring to an organization – and conversely the adverse effects that one lacking these attributes can manifest. The relevance of an ongoing, constructive, engagement with a strong collaborative board has increased in current volatile and uncertain environment.

While the world continues to grapple with the impact of the pandemic and M&A activities suffer severe disruptions, businesses have started to adapt their strategic activities to this new environment and some structural changes have emerged.

FOCUS ON....
 

ECONOMIC SPOTLIGHT*

Alicia Garcia Herrero, Chief Economist, Asia Pacific, Natixis

The Pandemic Will Structurally Change The Global Economy More Than We Think

Those who say there are no letters left in the alphabet to describe the evolution of the world economy after the pandemic are absolutely right. It is abundantly clear now that we cannot expect to see a rapid V-shaped recovery —nor should we expect a complete stagnation or a L-shaped recovery. The newest version of recovery, the K-shape, reflects the increasing disparity between the winning and losing sectors, including the middle class.

Further Reading 

Fifth Plenum maps China's response to a more hostile world

Politics not economics demands a strengthened international role for the Euro

China's Yuan near cracking US Dollar hegemony 

*For the full text of these reports, please refer to the email distribution or contact Natixis Asia Pacific Communications 

NETWORK IN THE NEWS

Natixis and Azure Capital advised ENGIE ANZ

Azure Capital advised Pioneer Credit on its A$189 million refinancing

Azure Capital advised IMC on the A$150m sale of Millennium Minerals

The New State of M&A: An APAC Perspective

Marcus Shadbolt, Managing Partner at Vermilion Partners, spoke to Datasite about the approach required for dealmaking in China.

BlackRock seeks buyer for Origin Energy-backed QLD renewables

BlackRock Real Assets - part of the $US7.3 trillion BlackRock family - has has tapped Azure Capital and global firm Natixis to handle the sale of its 90 per cent stake in two Queensland solar farms.

NEW FACES

Delphine Le Court

Delphine Le Court

Director
Natixis Asia Pacific

ABF

Alexandre Fauquert

Manager
Azure Capital

INDUSTRY TRENDS

'Arb-ageddon’ risk recedes as deals go through

The key lesson of the year may be that deal agreements, fortified by lawyers after the financial crisis, mostly withstood buyers getting wobbly.

M&A spikes in record third quarter as boards go on pandemic deal spree

Mergers and acquisitions came back with a bang in the third quarter.

Can dealmaking save us from the zombiepocalypse?

Since the coronavirus pandemic hit, public and private investors alike have poured trillions in rescue finance into the market, sustaining big businesses from collapse as earnings tumbled.

SPACs are One Good Scrub Away from Respectability

Like many red-hot investments, special purpose acquisition companies inspire a mixture of desire and disdain.

Japan rethinks its opposition to hostile takeovers

The Japanese market is still priced as if hostile takeovers do not exist. About half of companies in the Topix index are trading below their book value, and more than a dozen have market capitalisations below their levels of cash.

TMT and healthcare M&As go up, as other sectors sink

Telecoms and healthcare were the only two sectors to have increased in value this year compared with 2019, according to a new survey from GlobalData.

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Disclaimer: This document has been prepared by Natixis as commercial documentation for discussion and information purposes only. It is highly confidential and it is the property of Natixis. It should not be disclosed or transmitted to any person other than the original addressee(s) without the prior written consent of Natixis. This document does not constitute a personalised recommendation. It is intended for general distribution and the opinions, analysis, products or services described herein do not take into account any specific investment objective, financial situation or particular need of any recipient.

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