The volume of the M&A market with a threshold of $1 million in January-February 2024 increased significantly compared to the result of the same period last year. The total value of transactions in two months increased 2.1 times, amounting to $8.15 billion against $3.91 billion a year earlier. This is stated in the bulletin "Mergers and Acquisitions Market" of the AK&M News Agency (issue No. 312).
The number of transactions also increased: 60 transactions took place in the reporting period, compared with 51 a year earlier (+17.6%). In ruble terms, the amount of transactions in January-February increased 2.6 times to 732.34 billion rubles from 277.45 billion rubles.
However, the price of realizable assets decreased: the average transaction cost (excluding the largest) decreased by 25.9% to $56.7 million from $76.5 million in the same period in 2023.
This decrease is explained by the fact that in January-February last year, transactions more expensive than $ 1 billion were not fixed, and this year two such transactions were concluded.
The largest of them took place in the mining sector — Polymetal gold miner sold its Russian assets to Mangazeya Group for $3.69 billion.
The second billion—dollar deal was with financial institutions - the sale of 100% of the leasing "Transfin-M" to the company's management for an estimated $1172.2 million.
In third place was a cross—border transaction in transport - the January purchase of Kazakhstan's Aqniet Capital LLP, the beneficiary of which is businessman Kairat Itemgenov, of a majority stake in Globaltrans for an estimated $774.5 million.
In January-February 2024, no purchases of foreign assets by Russian investors were recorded. Most of them acquire assets only within the country.
Separately, it is worth noting transactions that, according to the AK&M methodology, are classified as internal (when the asset is located in Russia and the buyer is a Russian resident), but the seller is a foreign investor. In January-February 2024, 11 such transactions out of 60 took place, their total value amounted to $690.8 million — this is only 8.5% of the total volume of transactions of the period.
Japanese companies left the Russian market most actively at the beginning of 2024, and there were few transactions with investors from other countries.
Read more about the results of the M&A market in issue No. 312 of the monthly bulletin "Mergers and Acquisitions Market" of the AK&M News Agency.
All agency bulletins can be purchased at the AK&M Analytical Bulletins and Research Store.
