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28 Jan 2019, Stella Zlatareva, EMIS M&A Team

December's Top Deals

In December 2018, four years after their first merger attempt, Saudi Arabian chemicals manufacturers Sipchem and Sahara Petrochemical signed a binding agreement for a merger of equals. The deal, estimated at USD 1.5bn or USD 2.2bn (depending on the date used for Sahara Petrochemical’s most recent share price), was the largest transaction in the EMEA region, according to EMIS data. The tie-up is expected to boost the resilience of the Saudi petrochemical sector and improve the companies’ financial resources and capital market access.

Latin America’s top deal in December was the acquisition by Boeing of 80% in Embraer’s commercial jet operations. The USD 4.2bn transaction was legally challenged but ultimately approved by the Brazilian government in early January. It would allow Boeing to compete regionally with its main rival Airbus and to gain a strategic foothold in the market for smaller planes.

The largest deal in emerging markets in general was the purchase of the Indian consumer healthcare unit of GlaxoSmithKline by local Hindustan Unilever for USD 4.5bn. The takeover is one of the largest deals across the fast moving consumer goods (FMCG) sector in India and includes consumer healthcare nutrition products, such as the popular malt milk drink Horlicks.

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Original source: EMIS - DealWatch

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