Upcoming significant pickup mergers, acquisitions likely due to COVID-19
- Date: 05-Jul-2020
- Source: Daily News Egypt
- Sector:Technology
- Country:GCC
Upcoming significant pickup mergers, acquisitions likely due to COVID-19
The Europe, Middle East, and Africa (EMEA) region has taken a strong leadership position in technology and energy transition, according to Phil Drury, Head of BCMA in the EMEA region at Citigroup.
"We came into this crisis in a strong position as we believe that we will come out of it in a strong position, as we genuinely help our clients,“ Drury said. "We will continue to invest in three regions that comprise between 40-50% of our wallet in the UK, Germany, and France.“
Citigroup plays a leadership role across the region in terms of lead-bank liquidity, and currently has 40 close syndications in the EMEA region. It participates in 26 of these, playing a leadership role in helping out clients in terms of bank-led financial liquidity, Drury added.
He further noted, "We believe that the COVID-19 experience will lead to significant pickup mergers and acquisitions (M&A) in the coming months.“
Moreover, Alison Harding-Jones, Head of Mergers and Acquisitions for EMEA at Citi, said that as deals fall across the world. However, a select group of companies that focus on acquisitions are still finding a way to undertake transactions, by taking advantage of surging stock prices.
Harding-Jones added, "Globally, in the first half of