Issue 11 2020

Acquisition International - Issue 11 2020 33 Number and Aggregate Value (Mil USD) of Deals Targeting Chemicals Sector Globally by Deal Type: 2006-2020 YTD (as at 29th October 2020) Number and Aggregate Value (mil $) of Deals Targeting Chemicals Sector Globally: 2006-2020 YTD (as at 29th October 2020) Deal quarterly value (Announced date) Number of deals Aggregate deal value (m USD) Q4 2020 99 2,341 Q3 2020 433 29,515 Q2 2020 488 19,951 Q1 2020 561 16,475 Q4 2019 669 56,545 Q3 2019 626 22,374 Q2 2019 664 35,517 Q1 2019 647 100,212 Q4 2018 855 31,543 Q3 2018 412 36,434 Q2 2018 481 35,534 Q1 2018 450 47,236 Q4 2017 445 47,824 Q3 2017 417 20,622 Q2 2017 493 51,970 Q1 2017 440 24,404 Q4 2016 431 23,666 Q3 2016 452 86,697 Q2 2016 423 32,828 Q1 2016 683 70,278 Q4 2015 662 89,741 Q3 2015 508 41,490 Q2 2015 516 39,014 World region (target) Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Far East and Central Asia 302 310 247 250 254 53 Western Europe 148 182 179 115 89 25 North America 126 118 84 90 49 9 Eastern Europe 13 22 19 20 18 9 South and Central America 14 13 7 3 6 2 Oceania 15 17 10 3 3 1 Africa 8 8 12 7 6 0 Number of Deals Targeting Chemicals Sector Globally by Region: 2006-2020 YTD (as at 29th October 2020) Bureau van Dijk Both the volume and value of mergers and acquisitions (M&A) targeting real estate companies increased slightly in the third quarter of 2020 as 1,152 deals worth a combined USD 34,477 million were announced over the three months, according to Zephyr, the M&A database published by Bureau van Dijk. The result represents a 1 per cent increase on Q2 2020’s 1,146 deals, while value climbed 37 per cent from USD 25,148 million over the same timeframe. The trend was less positive in a year- on-year comparison as both volume and value were down on Q3 2019’s 1,747 deals worth USD 63,042 million. On a monthly basis, October was fairly quiet, with 324 deals with an aggregate value of USD 9,419 million having been signed off, compared to September’s 416 at USD 17,193 million. Of the deals targeting real estate companies to have been announced globally during 2020, the most valuable was signed off in September. This took the form of an acquisition as CapitaLand Mall Trust agreed to pick up Singapore- headquartered CapitaLand Commercial Trust for USD 6,060 million. This transaction, which completed on 21st October, was the only deal to break the USD 6,000 million-barrier in the year to date and accounts for 35 per cent of total value for September. It was followed by a transaction which was signed off in February as Blackstone purchased IQSA Services for USD 5,697 million. In all, there have so far been 15 deals worth over USD 1,000 million targeting real estate companies announced globally since the beginning of 2020 and these featured targets based in the likes of the UK, Canada, the UAE and Japan, among others. Unsurprisingly, activity in every quarter of 2020 so far has been lower than for the corresponding period of 2019 in term of both volume and value, with the exception of Q1, when value was higher than in the opening three months of last year. The effects of the ongoing coronavirus pandemic continue to be felt globally and the situation is undoubtedly having an impact on dealmaking levels across multiple sectors. Many will be keeping a close eye on M&A activity in the coming months as the situation continues to develop. Real Estate Number and Aggregate Value (Mil $) of Deals Targeting Chemicals Sector Globally by Target Sector: 2006-2020 YTD (as at 29th October 2020) Deal type Number of deals Number of deals with known values Aggregate deal value (m USD) Acquisition 7,977 3,715 1,011,205 Minority stake 15,787 14,113 577,551 Institutional buy-out 734 248 134,264 Share buy back 2 2 7,001 Management buy-out 133 34 1,240 Demerger 23 2 438 MBI / MBO 4 2 100 Management buy-in 14 5 37 Merger 33 1 9 BvD sectors (target) Number of deals Aggregate deal value (m USD) Chemicals, Petro- leum, Rubber & Plastic 23,346 1,660,289 Wholesale 1,386 65,072 Business Services 50 24,549 Industrial, Electric & Electronic Machinery 27 12,268 Agriculture, Horticul- ture & Livestock 4 10,787 Mining & Extraction 11 10,116 Retail 15 8,213 Transport, Freight & Storage 10 7,437 Utilities 8 7,296 Biotechnology and Life Sciences 15 7,141 Travel, Personal & Leisure 11 7,039 Construction 13 6,921 Property Services 10 6,862 Banking, Insurance & Financial Services 11 6,029 Wood, Furniture & Paper Manufacturing 8 4,983 Food & Tobacco Manufacturing 21 4,262 Leather, Stone, Clay & Glass products 7 717 Metals & Metal Products 17 531