Transactions Blog

On 16 June, we hosted our exclusive M&A event at the Magritte Museum in Brussels. Jan Muyldermans gave a presentation on tax issues in the context of debt restructuring and Chris Hemmings, our Global Head of Corporate Finance shared his vision on the M&A Marketing post credit crunch.

Download the presentation.

On 28 May, we hosted the last M&A Academy session of the season, which dealt with tax aspects of debt restructuring. Jan Muyldermans talked about what it is that is driving debt structuring transactions, the tax basics, the tax aspects of overall debt restructuring and the continuity law. Finally, he put all this into practice using a case study.

Download the “tax aspects of debt restructuring” presentation.

The new season of the M&A Academy will be launched soon.

Accounting for acquisitions has changed. The International Accounting Standards Board released a revised standard on business combinations in January 2008 (IFRS 3 Revised), accompanied by a revised standard on consolidated financial statements (IAS 27 Revised).

 The new standards are expected to add to earnings volatility, making earnings harder to predict.

 PwC has produced a guide IFRS 3R: Impact on earnings, the crucial Q&A for decision-makers  which aims to help dealmakers and preparers of financial statements communicate the consequences of a business combination on the current and future earnings.

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During the last six years (2003-2008), Emerging Market entities made some 844 acquisitions or investments in Western Europe with a combined value of nearly € 120 billion (of which some 3% in Belgium).

As a result of the ‘credit crunch’ and the global economic slowdown, 2008 has been a week year for global M&A activity. Despite this, 2008 was a record year for M&A transactions conducted by Emerging Market acquirers or minority investors, with 256 completed deals with an overall value in excess of € 45 billion.

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