Growth in M&A deals in Isle of Man
The Isle of Man has seen further growth in the volume and value of mergers and acquisitions according to the latest research by Appleby. The firm says the Isle of Man saw its total deal value increase 76% compared with the first quarter of 2013. The report shows total offshore deal value increased by 79% in the first quarter of 2014, compared with the same period in 2013, reaching its highest level since the end of 2012.
Simon Harding, a partner in the Corporate & Commercial department at Appleby (Isle of Man) LLC, said: “Average deal size across all offshore jurisdictions this quarter is among the highest we have recorded in the past seven years, a trend we are also seeing in Isle of Man, where average deal size is up more than fivefold from this time last year.
‘Across different jurisdictions: There were 15 deals worth in excess of USD1bn in Q1, including five worth more than USD2bn, and these big deals spanned a wide range of sectors. There were 34 IPOs announced in the quarter worth a total of USD11.7bn. In the past decade, that cumulative value has only been topped on five occasions. Additionally, this quarter’s average IPO of USD345m has only been beaten once in the last decade.’