MERGERS AND ACQUISITIONS
SABMiller deal boosts Deutsche Bank
Deutsche Bank is heading for its best annual performance in SA after winning a key role on the biggest beer acquisition in history. Sharing in the work on Anheuser-Busch InBev’s (AB InBev’s) $104bn takeover of SABMiller helped Deutsche overcome what is shaping up to be the worst year for the industry in SA since Bloomberg began records in 2004. "It was very positive to see this megadeal get done," Simon Denny, MD and investment banking head for the German lender’s Johannesburg-based unit, said. "Complex, large-scale mergers and acquisitions in SA have been scarce." Transactions in SA are grinding lower as the slowest economic expansion since the 2009 recession and political upheaval deter companies from following through on deals. Winning a role on the brewing deal is a bright spot for Frankfurt-based Deutsche Bank in the face of mounting litigation expenses tied to US mortgage-backed securities. Deutsche Bank tops South African mergers and acquisitions (M&A) league tables when meas...
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