While winter may be fast-approaching there were no signs—according to IFLR1000's selection of deal announcements—of a freeze in M&A and capital markets this October as acquisitions continued to make the headlines, companies continued to list on stock exchanges, and bonds continued to sell—especially those denominated in euros. Deals were spread across a vast array of industries with financial services, consumer goods, food and beverage, and government and public policy pipping to the post.
The People's Republic of China, which last sold a global bond in 2004, reinforced its position as a global player in the financial markets with the sale of a $2 billion sovereign bond; Global Infrastructure Partners acquired Equis Energy for $5 billion which is the largest renewable energy generation acquisition to date; and BAWAG undertook an IPO on the Vienna Stock Exchange raising €1.9 billion, which the largest ever on Vienna's stock exchange.
M&A deal values have increased this month at just over $55 billion at the top end of the market, with Freshfields Bruckhaus Deringer leading the field at a 32.6% value increase for itself when compared to this time last year. The firm has been particularly active in the Netherlands helping CVC Capital Partners buy TMF Group from DH Private Equity Partners, and assisting British Columbia Investment Management Corporation (bcIMC) purchase Rotterdam-based bottling company Refresco. With regard to the deal volume table there are no prizes for guessing which firm took pole position as Kirkland & Ellis—with 25 deals in October—tightened its grasp at the top for the twelfth time in the past 14 months.
Elsewhere we have seen a number of landmark deals. Vodafone India agreed a $23 billion merger with Mumbai-based mobile network operator, Idea Cellular, to create India's largest telecom player; Grupo Financiero Banorte acquired Grupo Financiero Interacciones for $1.4 billion to form the second biggest bank in Mexico; and Chinese fintech company Qudian raised $900 million in a NYSE IPO to continue a trend of foreign entities listing in the United States.
If you have any public deal announcements you would like us to take into account for our reports please send them to - amajeed@iflr1000.com
With the EMEA segment of IFLR1000 Deal Data—a fully searchable database whose BETA version went live in May last year—in full effect, the Asia-Pacific launch is close at hand. This database of significant deal records from over 120 countries will include searchable and filterable data on the most significant legal transactions from around the globe, and all of our featured monthly deals will be included along with many more garnered from the IFLR1000's own research, press releases and other deal announcements.
Below you can access our top picks for October 2017 linked to their record in the new deals database.
Adam Majeed - Asia-Editor
Mergermarket table 1 - Law firms by global M&A deal value
Mergermarket table 2 - Law firms by global M&A deal volume
Deal 1: BAWAG Vienna Stock Exchange IPO
Jurisdictions: Austria
Deal type: IPO
Industry sectors: Banking
Deal 2: Camil Alimentos IPO
Jurisdictions: Brazil
Deal type: IPO
Industry sectors: Consumer goods and services
Deal 3: CVC €1.75 billion acquisition of TMF
Jurisdictions: Netherlands
Deal type: Private acquisition
Industry sectors: Food and beverage
Deal 4: Elis €400 million convertible bonds issue
Jurisdictions: France
Deal type: Convertible and hybrid securities
Industry sectors: Consumer goods and services
Deal 5: Express Scripts $3.6 billion acquisition of eviCore
Jurisdictions: United States
Deal type: Private acquisition
Industry sectors: Healthcare
Deal 6: GIP $5 billion acquisition of Equis Energy
Jurisdictions: Singapore
Deal type: Private acquisition
Industry sectors: Energy
Deal 7: Grupo Financiero Banorte $1.4 billion acquisition of Grupo Financiero Interacciones
Jurisdictions: Mexico
Deal type: Private acquisition
Industry sectors: Financial services
Deal 8: Intercity Express Programme
Jurisdictions: United Kingdom
Deal type: Asset finance, Asset acquisition, Procurement
Industry sectors: Transport
Deal 9: MTPC $1.1 billion acquisition of NeuroDerm
Jurisdictions: Japan, Israel
Deal type: Private acquisition
Industry sectors: Pharmaceuticals and life sciences
Deal 10: PAI Partners and bcIMC €1.6 billion acquisition of Refresco
Jurisdictions: Netherlands
Deal type: Public acquisition
Industry sectors: Food and beverage
Deal 11: PRC $2 billion sovereign bond issue
Jurisdictions: China
Deal type: Sovereign bond issue
Industry sectors: Government and public policy
Deal 12: Qudian NYSE IPO
Jurisdictions: United States
Deal type: IPO
Industry sectors: Financial services
Deal 13: Republic of Hungary €1 billion 1.75% sovereign euro bond issue
Jurisdictions: Hungary
Deal type: Sovereign bond issue
Industry sectors: Government and public policy
Deal 14: TI Fluid LSE IPO
Jurisdictions: United Kingdom
Deal type: IPO
Industry sectors: Automotive
Deal 15: Vivendi €850 million 0.875% bond issue
Jurisdictions: France
Deal type: Investment grade bond/note issue
Industry sectors: Media
Deal 16: Vodafone India $23 billion merger with Idea Cellular
Jurisdictions: India
Deal type: Merger
Industry sectors: Technology and telecommunications
Reporters
Sam Duke - Editor
Adam Majeed - Asia-Pacific Editor
Ben Naylor - EMEA Editor
Jon Moore - Journalist EMEA
Jordan Hughes - Journalist EMEA
Wai Yee Tsang - Journalist Asia-Pacific
Rani Mehta - Journalist Latin America
Kurt Stumpo - Journalist - North America and the Caribbean
Katrin Kostadinova - Data Analyst - Global