Offshore M&A financial services to the fore
In the third quarter of 2013, there were 538 deals announced offshore, with a combined value of $34.5bn (£21bn). The financial services sector continued to be an extremely active sector, with the Cayman Islands one of the most popular jurisdictions for mergers and acquisitions (M&A) activity. During this time, Appleby acted on a large number of buy/sell side deals involving banks as well as trust and fiduciary services businesses.
Vendors, buoyed by resilient valuations, are seeking to dispose of assets to free up their balance sheets. Meanwhile, disposals appear ever more attractive to European vendor banks in light of the strict regulatory capital requirements imposed under Basel III.
Purchasers, benefiting from continuing low interest rates, are seeking acquisitions to either grow or consolidate their offshore market share. In other cases, purchasers with no existing offshore presence are deal-hungry to obtain a foothold in the offshore space, attracted to higher yielding offshore markets in contrast to the declining profitability of some domestic businesses. The Cayman Islands remains particularly appealing to purchasers having, for the fifth consecutive year, recently been recognised as the best specialised financial centre in the world, as surveyed by The Banker…
If you are registered and logged in to the site, click on the link below to read the rest of the Appleby briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Appleby
News from The Lawyer
Briefings from Appleby
Bermuda’s legal framework facilitates the creation of flexible and economically viable co-investment vehicles within a stable and business-friendly jurisdiction.
Feltham v Bouskell provides a cautionary tale for lawyers regarding the need to act quickly upon the receipt of instructions from elderly or ill clients.
Analysis from The Lawyer
Offshore law firms have long supplemented their legal offerings with fiduciary business, but will that model last?
Business is booming in the Isle of Man, a small jurisdiction that thinks big