KEY POINTS:
New Zealand merger and acquisition activity is expected to pick up again this year following a 23 per cent decline in 2007.
New Zealand deals dropped to $15 billion, with notable deals failing to materialise including planned takeovers for Auckland International Airport, Tourism Holdings and Abano Healthcare.
"Although the frenetic pace of mergers and acquisitions dropped off near the end of the year, as the credit crunch started to bite locally, we can already see a strong deal flow for 2008," Chapman Tripp partner John Strowger said. "We expect private equity funds to again be prominent in 2008, as many of New Zealand's largest companies remain attractive targets," he said.
Chapman Tripp advised parties involved in over 89 deals valued at over $27 billion last year.
- NZPA
