The Central and Eastern Europe M&A market saw mixed results in 2015. While some countries like Poland, Hungary, Serbia and Bosnia saw increases in deal value and volume from 2014, the overall CEE market saw declines. M&A activity in Russia remained depressed due to sanctions and the situation in Crimea and Eastern Ukraine. The United States was the most active foreign investor in CEE, while investment from China and South Korea was also on the rise. Manufacturing was the sector with the most deals in 2015.

1. EmergingEurope
M&A REPORT
EMIS | CMS

2. WHILST THE 2015
GLOBAL M&A MARKET
SAW MORE DEALS WITH
MORE VALUE THAN ANY
YEAR SINCE 2007, THE
CEE M&A MARKET AS A
WHOLE WAS TEMPERED.

3. POLAND, HUNGARY, SERBIA AND
BOSNIA AND HERZEGOVINA SAW AN
INCREASE IN DEALS - BOTH VALUE
AND VOLUME - FROM 2014. AS A
WHOLE, CEE DEAL VOLUME AND
VALUE WERE DOWN ON 2014.

4. THE SITUATION IN CRIMEA AND EASTERN
UKRAINE, ALONG WITH SANCTIONS IMPOSED ON
RUSSIA, CONTINUES TO DEPRESS M&A ACTIVITY
IN RUSSIA, WHICH HISTORICALLY HAS BEEN
ONE OF CEE’S BUSIEST M&A MARKETS.

5. THE MOST ACTIVE FOREIGN
INVESTORS IN CEE IN 2015
WERE FROM THE US. THIS IS NOT
SURPRISING, GIVEN THE STRENGTH
OF THE DOLLAR AGAINST
THE EURO, AND IS A CONSISTENT
TREND ACROSS THE EUROPEAN M&A MARKET.
A NEW WAVE OF INVESTMENT FROM CHINA
AND A DEVELOPING INTEREST FROM SOUTH
KOREA WERE ALSO APPARENT.

6. DEALS BY VALUE AND VOLUME
2,596
137.6bn
2,558
111.7bn
2,197
62.8bn
2,138
53.5bn
2012 2013 2014 2015

7. NUMBER OF DEALS BY SECTOR IN 2015
Manufacturing Telecoms & IT Real Estate
Finance &
Insurance
Wholesale &
Retail Trade
Services
Food & Beverage Utilities Other
343 298
245 201
263
163
113 112 400

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