PwC report: Greek M&A activity totaled 4.1 billion euros in 2020

Greek enterprises attracted 6.0 billion euros in 2020, of which 4.1 billion euros in mergers and acquisitions, 1.7 billion in corporate bonds, 45 million in privatisations and 600 million in transactions of non-performing loans from Greek banks, PwC said in its annual report on Mergers and Acquisitions in Greece 2020.

The report showed that the number of M&As in Greece fell by 31 pct in 2020 compared with the previous year, but the average value of transactions rose by 19 million euros over the same period, indicating a turn towards larger transactions. More specifically, despite adverse economic conditions, 10 transactions involving large capitalisation (more than 100 million euros) were completed in 2020, from eight in 2019, with foreign investors participating in eight of them. Incoming transactions fell by 22 transactions, but their value grew by an average 46 million euros. Domestic transactions grew slightly in numbers but their value doubled in 2020. The TMT sector (telecoms, media, technology) was the most active in 2020 with 14 transactions, followed by the energy sector with nine transactions. PwC said it expected the value of transactions to exceed 2.0 billion euros this year, adding to more than 1.5 billion euros in privatisations.