Emerging Europe remains a magnet for international dealmakers, CMS report reveals Deal volumes across emerging Europe fell by 6.5% in 2019 Foreign investment surged, with cross-border M&A increasing by 14.6% (1,163 deals) Private equity investments reached a record high with 318 deals, accounting for 16% of all deal-making Telecoms & IT outperformed Manufacturing as the second largest sector by volume (300 deals in 2019, compared with 279 in 2018); the Czech Republic follows this trend Real Estate & Construction remained the most active sector with 378 deals and was also the sector with the highest overall deal value (EUR 16.6bn) Ukraine appears to be the country to watch – with transaction volumes increasing by 26% and transaction values increasing by 26.3%, compared with 2018 Deal count dropped in the Czech Republic  to the lowest level since 2015 (158 deals) – the average deal value shows a healthy increase.

2019 was lackluster year for IPO activity with deals and proceeds down overall Technology sector dominates with 263 IPOs raising US$62.8b in 2019 2020 expected to see more robust IPO activity, particularly in the first half of the year Geopolitical uncertainty and trade tensions heavily impacted the 2019 IPO landscape, pushing overall IPO activity down in terms of deals and proceeds. 2019 has registered 1,115 IPOs with proceeds of US$198b – a 19% fall in deal volume and a 4% decrease in proceeds compared with 2018. However, as US-China-EU trade tensions, concerns about economic growth and other geopolitical issues – including Brexit and social unrest in Hong Kong – subside, a healthy increase in IPO activity is expected in 2020, particularly in the first half of the year, as markets are expected to become more volatile leading up to the US Presidential elections.