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Rising to the challenge: M&A in Ukraine

Rising to the challenge: M&A in Ukraine

13 April 2017

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Mergermarket is pleased to present the second edition of M&A in Ukraine, published in association with Aequo. This report provides invaluable insight into key trends in Ukraine’s M&A landscape and outlook for 2017 and beyond.

After two exceptionally difficult years, the Ukrainian economy showed signs of recovery in 2016 – GDP grew by 1% in 2016, following a 9.9% contraction in 2015, and growth is expected to pick up to 2% in 2017, according to World Bank data.

Highlights from the report include:

  • Helped by the improving macroeconomic environment, the M&A market saw an uptick, with deal volume rising by 35% year on year. Disclosed value doubled to €310m, although this figure was boosted by UniCredit’s sale of Ukrsotsbank to ABH Holdings for €281m.
  • Ongoing consolidation in the financial services sector accounted for 43% of deal volume over the past two years. Outside financial services, lively sectors included energy, agriculture, where domestic players are looking to increase their land holdings, and TMT, particularly information and communications technologies (ICT) outsourcing.
  • Private equity (PE) activity in Ukraine has been subdued over the past three years. And activity was fairly static in 2016, with just four deals, all with undisclosed values.
  • Looking ahead, the Mergermarket Heat Chart, which logs ‘companies for sale stories’ for the past six months, shows that the consumer sector is generating the highest number of M&A targets (10), followed by financial services and industrial & chemicals with seven each.