DECRYPTION – Economic instability causes the number of operations carried out to drop. Sellers and buyers remain on the lookout.
The last days of July and the first days of August were no exception to the rule. Before going on vacation, bankers and business lawyers gave a final blow to complete deals that have been in preparation for months: the sale of GreenYellow by Casino on Thursday, that of Akiem by the SNCF on Monday.
These two emblematic operations, however, mask a worrying reality for these M&A professionals. The mergers and acquisitions market is the victim of a sudden stop: many projects are abandoned, and very few new ones come to feed the back-to-school pipeline.
“For several weeks, the LBOs have been at a standstill, notes Nicolas Constant, partner at Centerview. There is no more funding for this type of operation. We will probably have to wait until the end of the year for lenders to have regained capacity and appetite..» In France, the sale of Tessi (payment management) by the HLD fund seems to be interrupted. As well as that of the laboratories…
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