Russia’s invasion of Ukraine has left dealmakers in Europe unsure about if and when roughly $300bn of mergers, acquisitions and listings will go ahead.
Fresh volatility in the market, rising energy prices and worries about a drawn-out war are pushing corporate boards and previously free-spending private equity firms into wait-and-watch mode. That’s raising questions about an M&A pipeline with some high-value transactions in the works.
Another roughly $50 billion of possible deals could come from German national railway operator Deutsche Bahn AG selling or listing its logistics arm, KKR & Co.’s pursuit of Telecom Italia SpA, and any sale by Reckitt Benckiser Group Plc of its infant nutrition unit. And then there’s the potential for a blockbuster sale or spinoff of GlaxoSmithKline Plc’s 50 billion-pound ($67 billion) consumer health unit.
Among the big IPOs set to kick off in the coming months in Europe are Thyssenkrupp AG’s electrolysis plant business Nucera, Eni SpA’s renewables division Plenitude, Olam International Ltd.’s food ingredients and EQT AB’s skincare business Galderma. These IPOs have the potential to create listed companies with a combined value of about $50 billion.
Read more: Yahoo Finance
