American investors help fuel record year for M&A business in Sweden
(Bloomberg) – Two-way flows in contract volumes between the US and Sweden are helping to drive “a record year” for mergers and acquisitions in the largest Nordic nation, according to a report from the law firm Baker McKenzie.
The report states that it was mainly investors from the USA who made acquisitions in Sweden, while the American market was also the destination that was most attractive to Swedish companies when it came to cross-border M&A.
During the first nine months of the year, US investors completed 45 M & A deals worth $ 41.3 billion and Swedish investors completed 70 deals in the US worth $ 24.6 billion. The single largest cross-border M&A deal in Sweden was a listing of Polestar Performance AB on Nasdaq through a merger with SPAC Gores Guggenheim Inc.
More generally, the number of M&A deals in Sweden increased by 56% to 1,460 transactions from January to September this year, while the value soared by 354% to $ 118.7 billion.
In Sweden, there is “a continued low interest rate situation and the supply of capital is good”, says Carl Svernlov, Stockholm-based partner at the agency.
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