Unlisted mid-market valuations in the eurozone remain stable at 6.3 times EBITDA whereas M&A activity is at an historically low level for the year 2012 in spite of a rise in the last quarter.

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The combined company will create the third-largest US specialty pharmaceutical firm. The US generic and over-the-counter products maker Actavis has signed a definitive agreement to acquire the UK-based specialty pharmaceutical firm Warner Chilcott in an all stock deal of approximately $8.5bn.

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Europe’s share of global M&A has considerably dwindled over the past few years. Behind this stark reality, lies a more complex picture showing the effects of the never-ending eurozone crisis and Western Europe’s poor growth prospects: European M&A is moving East.

In 1Q13, Europe saw EUR 89.5bn worth of deals, down 27.2% when compared to the same period last year and contributing only 28.8% to the global deal value. These latest figures only confirm the continued direction of Europe’s share of global M&A since 2008, when Europe contributed 42% of the global value of EUR 1,623bn. In 2011 this figure was 32.2% with deals worth EUR 518.6bn and 30.9% in 2012 with deals worth EUR 542bn.

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The shares of web shop Shopline will continue to trade on the Budapest Stock Exchange (BSE) following the company’s merger with book retailer Libri Könyvkereskedelmiannounced on Friday. Shopline is a B-category issuer at the Budapest Stock Exchange.

http://www.bbj.hu/business/shopline-shares-to-continue-to-trade-on-bse-following-merger-with-libri_65948

Buy and build acquisitions by European private equity backed businesses fell sharply in the first quarter of the year despite showing signs of a pickup late in 2012.

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HIG Capital’s European arm is back in the fundraising market targeting €760m for its second fund dedicated to the continent.

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US private equity firm Advent International is changing the way it invests in Central and Eastern Europe.

The firm has shelved plans to raise funds dedicated to investing in central and eastern Europe and in future will instead invest in the region through its global fund.

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Private equity major Warburg Pincus is reportedly planning a sale or IPO of European discount store chain Poundland three years after picking up the business in a £200m deal.

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Warburg Pincus has sealed the largest private equity deal in Poland so far this year with the strategic minority investment in cable operator INEA.

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