Banking M&A Digest #78 (11.6.2020)

Posted by

DIGEST_photo_1920x1080_02_5

Corporate Financier’s Notes by Aivars Jurcans

Done! And Done

Munich Re’s Ergo unit has acquired a 24.9% stake in Taishan Property & Casualty Insurance through a capital increase. 

Source: Reuters

Deals On The Table

Banco Indusval, a Brazilian mid-sized lender, is said to be planning to delist from the highest governance section of the stock exchange and make a tender offer to its minority shareholders.

Source: Reuters

Massachusetts Mutual Life Insurance Company is said to be exploring a sale of its retirement services division. The division has about USD 175 billion of assets under management and administration and could fetch about USD 2 billion.

Source: Reuters

Thanks, But No Deal

Amigo Loans, a UK subprime lender providing guarantor loans to borrowers with bad credit histories, has ended its sale process after an unnamed potential acquirer that offered GBP 100 million for Amigo had withdrawn from the process. 

Source: FT

Sayonara

Apollo Global Management, a US asset manager, is said to be considering to exit its investment in Aion Capital Partners, a JV with ICICI Bank, an Indian lender, over the next few years. Aion had assets under management of USD 660 million on 31 March 2020. 

Source: Bloomberg

Metrics To Watch

Deutsche Bank expects that its 2020 credit losses will range between 35bps and 45bps of its loan book; that is up from 17bps in 2019. 

Source: FT

Follow The Money

PayPal has made an investment in GoPay, a fintech arm of Gojek (an Indonesian payment, food delivery and ride-hailing app operator). The size of the investment was not disclosed but according to a regulatory filing PayPal owns 0.6% of GoPay. 

Source: Reuters

Exciting Numbers

The amount of debt in the eurozone that is considered unlikely to ever be fully repaid already stands at more than EUR 0.5 trillion, including credit cards, car loans and mortgages.

Source: Reuters

The so-called “insurtech” companies raised just over USD 1 billion in 2019, according to CB Insights.

Source: FT

A Thought Worth Noting

“Under current circumstances, when the world came to a full stop in a month, there is no such thing as doing too much. If there is inflation, that is a small price to pay. The big social-political-economic problem is the loss of jobs and income.”

Carl Weinberg, chief economist, High Frequency Economics

 

To receive your personal weekly copy of Banking M&A Digest please subscribe at http://eepurl.com/gepqdP

Aivars Jurcans has more than 20 years of corporate finance and investment banking experience. His services are currently available through MURINUS ADVISERS.

Design by Artis Briedis, Photo by Joe Taylor on Unsplash

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s