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Rothschild & Co | Annual Report 2017
27
1. Overview
4. Financial statements
3.
Management report
2. Business review
Rothschild & Co advised the following clients on a number of significant M&A transactions during the year:
Arnault Family Group/
Christian Dior (France)
Asahi (Japan, various
Central and Eastern
European countries)
Bain Capital and Cinven
(Germany)
BM&FBOVESPA
(Brazil)
• Tender offer on Christian Dior
minority shareholders, and
concurrent advice to Christian
Dior on its disposal of Christian
Dior Couture (€12.0bn and
€6.5bn respectively)
• High-profile transactions involving
an iconic luxury fashion brand
• Acquisition of SABMiller’s CEE
business from AB InBev (€7.3bn)
• Marked Asahi’s transformation
from an Asia-Pacific focused
player to a global premium
beer powerhouse
• Public takeover offer for STADA
(€5.4bn)
• Represents the largest ever
pharma public-to-private
transaction and the largest
German public takeover by a
financial sponsor since 2007
• Combination with Cetip
(US$11.2bn)
• Trusted adviser to
BM&FBOVESPA;
seventh engagement since
demutualisation in 2006
Boehringer
(Germany, France)
Engie
(France)
Intel
(United States, Israel)
IP Group
(United Kingdom)
• Strategic asset swap between
Boehringer Ingelheim and Sanofi
(€22.8bn)
• Continued our outstanding recent
track record in the
pharmaceuticals sector
• Acquisition of GE Water &
Process Technologies by
SUEZ (€3.2bn)
• Part of our wider role to optimise
Engie’s portfolio over three years
• Acquisition of Mobileye
(US$15.3bn)
• Complex US acquisition of an
Israeli company, US-listed and
Dutch-incorporated; continued
our long-standing relationship
with Intel
• Combination with Touchstone
Innovations and simultaneous
£200m equity raise (£1.3bn)
• The combination of these
transactions is unprecedented
in the UK market
Kennedy Wilson Europe
Real Estate (United Kingdom,
United States)
Koch Equity Development
(United States)
Lone Star
(Portugal)
Metro Group
(Germany)
• Recommended all share offer by
Kennedy Wilson Holdings (£2.7bn)
• The largest European Real Estate
deal to complete in 2017
• Minority investment in Infor
(+US$2bn)
• Largest software deal of the last
two years in terms of valuation
(EV US$10bn), building on our
momentum in US software
• Acquisition of a 75% stake in
Novo Banco (€1bn)
• Largest ever bank acquisition by
assets and the first acquisition
of a top-three national banking
group by a private equity house
in Europe
• Demerger into METRO and
CECONOMY (€15bn)
• Largest ever German retail deal
SourceHOV
(United States)
SunEdison
(United States)
Technip
(France, United States)
Vivendi
(France)
• Three-way merger to form Exela
Technologies (US$2.8bn)
• The largest transaction involving
a US special purpose acquisition
company in the last decade
• Sale of controlling stakes in
Terraform Power and Terraform
Global to Brookfield (US$1.3bn
and US$6.6bn respectively)
• Part of our advice on the
company’s US$8.7bn Chapter 11
restructuring and successful
emergence from bankruptcy
• Combination with FMC
Technologies to create
TechnipFMC (€11bn)
• Leveraged relationships to assist
in discussions with French
government and Bpifrance
(key shareholder of Technip)
• Acquisition of Havas Group (€4.1bn)
• Highly strategic transaction for
Vivendi and the largest European
media deal to be announced in
2017