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Mergermarket M&A Awards
Deloitte is the best financial advisor of 2014 in the Baltic States
On 11 December this year, the award ceremony for the M&A advisory community in Europe (European M&A Awards) took place in London, where international audit and business advisory company Deloitte was announced the best financial adviser of 2014 in the Baltic States.
During the annual award ceremony which has been organized for the ninth year in a row by the international expert on mergers and acquisitions, Mergermarket, the best experts of finance, advisory, accounting, private equity deals, banking and law are announced.
The selection of winners is a three-stage process. During the first stage, the representatives of Mergermarket prepare a shortlist of companies for each award category using the available database comprised of information about merger and acquisition (M&A) deals which took place from 1 October 2013 till 30 September 2014. During the second stage, the companies which have made it to the shortlist present detailed information about the carried out transactions. During the final stage, a competent committee formed of independent experts, specialists of finance, banking and M&A, journalists and academics select the companies which are given the European M&A Award.
“We are very pleased to be awarded as the best financial advisors in the Baltic States and we highly appreciate this Mergermarket award,” said the Head of Deloitte Financial Advisory Department in Lithuania, Linas Galvelė. “The acknowledgement received from this prestigious international business publication affirms the high quality of services provided by Deloitte and the outstanding competence of our experts. Surely, this award serves as a motivation to maintain the leading position in the future and to raise even higher requirements for the quality of services provided by creating added value for the business of our clients,” stressed Linas Galvelė.
Deloitte – Advising on Landmark Deals in the Baltics
In the Baltics, Deloitte provided advisory services for the Polish insurance group, PZU, when acquiring leading insurance group: Lietuvos Draudimas (in Lithuania), Balta (in Latvia) and Codan Forsikring (in Estonia). The value of the deal amounted to EUR 258m; it was the biggest ever merger and acquisition deal of the insurance sector in the Baltics.
Advisory services were provided to a US VC fund, Insight Venture Partners, in their investment in a Lithuanian IT start-up, Vinted (EUR 20m), providing full M&A advisory support. Vinted has a potential of becoming a worldwide player and one of highest-valued IT companies in the region.
In Lithuania, Deloitte also provided financial advisory services in the buy-out of national gas transmission service provider, from E.ON and subsequently Gazprom (EUR 152m). The services on this strategic landmark deal ranged from negotiation support and finance raising assistance to financial modelling and post transaction support.
Deloitte experts in Latvia assisted Ripplewood Holdings, a US PE firm, in the acquisition of Latvian government’s stake in leading Latvian bank, Citadele. Deloitte supported Ripplewood Holdings throughout all the transaction phases providing buy-side support & negotiation, asset valuation, SPA drafting and full due diligence. The transaction value amounted to EUR 99m.
Deloitte also assisted a strategic investor during the acquisition process of 50%+1 shares of Norvik Banka (EUR 28m). The client was supported during the entire acquisition process, including the preparation of a business plan, entering into a dialogue with the regulator and other transaction aspects.
About Mergermarket M&A Awards
The Mergermarket M&A Awards are the most prestigious awards for the M&A advisory community in Europe, the Middle East & Africa, recognizing excellence in corporate, private equity, banking and legal M&A expertise, with winners chosen through a unique selection process.