2015 was a mammoth year for global M&A, breaking
2007 records with global deal volumes above US$5 trillion. With a
busy start to the year, 2016 looks set to continue 2015's theme
of strong M&A volumes. Far from the usual summer doldrums, the
M&A year opened strongly.
publication explores likely trends and issues in the New
Zealand M&A market this year.
Expected trends in 2016
Strong activity in the aged care, telecoms, primary products
and energy sectors.
Strong private equity interest, bolstered by newly raised and
hungry Australian and New Zealand funds.
China still in buy mode, particularly in primary products and
General offshore interest in New Zealand assets, particularly
out of the US, driven by a weakening Kiwi dollar.
Banks keen to fund acquisitions, but pricing is now expected to
be on an upward curve.
A developing taste for schemes of arrangement as an alternative
to offers under the Takeovers Code.
Prospective local authority asset sales, with a focus on
Christchurch City Council.
Overseas Investment Office (OIO) decision timeframes
to remain an issue, but improving incrementally.
Premium increases for warranty and indemnity insurance and
heightened underwriter scrutiny, following major claims in
Upcoming Base Erosion and Profit Shifting (BEPS)
global tax changes will begin to impact valuation and transaction
Chapman Tripp's national M&A team partners with clients
to successfully execute some of the biggest, most complex and
challenging transactions in New Zealand. Our Corporate and
Commercial team has advised on more M&A work than any other New
Zealand firm, including many of New Zealand's most significant
cross-border M&A deals.
The information in this article is for informative purposes
only and should not be relied on as legal advice. Please contact
Chapman Tripp for advice tailored to your situation.
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The Hon'ble High Court of Bombay has held that where a Scheme of Amalgamation is executed between two companies registered in two different states [...], then the said two orders are two independent instruments.
Lawyers are pretty good at figuring it out quietly and amicably among themselves, without recourse to a public courtroom.
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