CanSino to start Phase III trial of COVID-19 vaccine in Saudi    Trump signs measure to provide extra $400 for unemployed Americans    School year 2020-2021 to kick off 17 October in Egypt: Minister of education    Egypt parliament committee approves allowing ministry to change studying systems 'whenever necessary'    After Microsoft known intentions, Twitter expressed interest in buying TikTok's U.S. operations    Africa's new cases of COVID-19 top 1 million    Macron tells donor conference: 'Lebanon's future is at stake'    Bayern would have to do lots of things badly to lose to Barca, says Matthaus    Egypt puts in place scheme ahead of Senate elections – ministry    EFA has no intention of halting PCR tests ahead of league games, says medical committee boss    EBRD approves a $50 mn long-term loan to finance a wind power plant in Suez    FinMin garners EGP 30 bn in back taxes after settling 30k tax disputes    Egypt sends second batch of aid to Lebanon after Beiru's deadly blast    Saudi Aramco half-year profits plunge 50% from virus impact    Egypt's Amer calls for huge IMF, World Bank rescue package for Africa    Live score: Ahly v Enppi (Egyptian Premier League)    Esper: US will cut troop levels in Afghanistan to 'less than 5,000'    3 days of heavy monsoon rains kill 50 people across Pakistan    Egypt's new coronavirus cases tick up recording 167 on Saturday    Shooting heard at scene of demonstrations in central Beirut    Egyptian expats to vote for Senate elections by mail starting Sunday    Egypt records 141 new coronavirus cases, 20 deaths on Friday    Lebanon navigates food challenge with no grain silo and few stocks    Egypt's net foreign reserves edge up to $38.315 bln in July: Central Bank    Call for submissions for Egypt's 'Golden Talent' competition for people with special needs    South Africa calls for 'amicable solution' for GERD    Egypt rejects Ethiopia's latest proposal on GERD: Irrigation ministry    Don't miss the concerts of Boghdady Jazz Big band    My visual diary    African Champions League final will be played on Oct. 16-17, CAF says    Egypt invites Tesla's founder to visit Giza Pyramids after controversial tweets    Sisi: Egypt favours negotiations over a military solution to resolve Nile dam crisis: Al-Sisi    No room to delay Egyptian Premier League games – EFA's board member    Egypt Cup games to resume after Premier League finishes: EFA    The Facebook Preacher's Search for Fame, and Egypt's Economy    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Google ‘translate' ancient Egyptian hieroglyphs    Zaha speaks out after online racial abuse    Farwell to 74-year old Egyptian military production minister El-Assar    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Upcoming significant pickup mergers, acquisitions likely due to COVID-19
Most attractive sectors in Africa are technology and infrastructure, says Harding-Jones
Published in Daily News Egypt on 05 - 07 - 2020

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 the year volumes of M&A reached 47%, with North America recording 64%. The changed landscape will drive M&A to be the response to the challenges presented by COVID-19."
She pointed out that some large technology or health care companies are looking at their rich stock valuations and using that as a currency to pursue growth.
Harding-Jones further added, "I would expect to see more of those deals. Sectors which are most attractive and have potential in Africa are technology and infrastructure, as lately there has been much funding directed to these sectors."
Manolo Falcó, Global Co-Head of Banking, Capital Markets and Advisory, explained that it is difficult to predict what will happen in the second half of the current year. He believes, however, that clients really want significant, speedy solutions, with the result that global banks are the winner out of this.
Regional banks will suffer more than their global counterparts, as they will primarily need to focus on their region. A universal banking model is increasingly becoming the best solution for clients, and now, given the current global health crisis, more than ever.
"European banks have done an excellent job of being very much behind the client, and I think a lot of capital has come out of this work due to the strength of these banks, but I see suffering outside Europe," Falcó disclosed.


Clic here to read the story from its source.