EXCLUSIVE: JPMorgan expects more M&As driven by homegrown multinationals
General mergers and acquisitions forecast to remain suppressed until after the general elections
Overall levels of mergers and acquisitions activity should be fairly subdued until at least the elections, but transactions are expected to flow from home-grown multinationals expanding internationally. This is according to Kevin Latter, joint senior country officer and head of investment banking for sub-Saharan Africa at JPMorgan, in an exclusive interview with Business Day. “Where we are seeing M&A happening is by homegrown multinationals that continue to seek new avenues for growth outside of the country, and in some cases, need to undertake some kind of corporate restructuring to facilitate this,” says Latter. The recent announcement by Investec to separately list its substantial asset management business is one example. As announced in September 2018, the demerging of Investec Asset Management (IAM) from the existing specialised bank and wealth and investment business is a step in propelling the asset manager into the “super leagues”, says IAM CEO Hendrik du Toit. The demerger ...
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