Goldman Sachs top for

M&A services

12:30PM Monday October 01, 2007

Goldman Sachs JBWere was the top mergers and acquisitions adviser in New Zealand in the first nine months of the year, according to a survey by financial information company Thomson.

Goldman Sachs earned a whopping US$20.5 million ($28m) in fees from four deals, giving it a 13.4 per cent market share of fees for completed deals in the period.

Credit Suisse was second, earning US$14.3m from six deals, giving it 9.4 per cent of the market.

UBS was third with US$13.3m of fees from five deals and ABN Amro was fourth with US$10.2m of fees from five deals.

Deutche Bank was fifth with US$6.4m of fees from three deals.

Citibank ranked sixth, Duff and Phelps seventh, Macquarie Bank was eighth, Grant Samuel ninth and First NZ Capital was tenth.

The industry earned US$153.1m of fees from mergers and acquisition deals completed in the period.

Mergers and acquisition deals worth US$8.3 billion were either done or announced in the nine months so far this year. This is a 4.2 per cent increase on the same period last year.

The media and entertainment sector was the biggest source of work, with deals worth US$2.3b, up 27.7 per cent on the same period last year.

Goldman Sachs also topped the table of announced deals based on deal value. On this table Credit Suisse was second, ABN Amro was third and UBS fourth.

- NZPA