Global M&A Trends Report |
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Norway |
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(Europe)
Firm
Advokatfirmaet Thommessen AS
Contributors
Sverre Tyrhaug |
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| With respect to private M&A, what are three things on top of mind for M&A practitioners in your jurisdiction? | Three things top of mind for private M&A practitioners in Norway are:
Core topics continue to be high interest rates, continued uncertainty on soft landing/recession, inflation concerns and more limited availability to bank debt financing. With that environment valuation gaps are an issue, and the market generally wants to await a more stable market (in terms of e.g. interest rates). Geopolitical conflicts are adding to this, making national security a bigger issue. |
| With respect to private M&A, where does your jurisdiction see most deal activity? | Most private M&A deal activity is categorized as mid-market. |
| With respect to private M&A, what sector sees the most deal activity in your jurisdiction? | Most private M&A deal activity is seen in the Energy sector. |
| What are your predictions for private M&A deal volume in your jurisdiction during 2024? | Private M&A deal volume in 2024 is predicted to be the same as 2023 deal activity, maybe a little higher. Deal volume was okay in Norway in 2023. With a stabilizing economy (interest rates, inflation) this could pave the way for more activity in 2024. |
| With respect to public M&A, what are three things on top of mind for M&A practitioners in your jurisdiction? | Three things top of mind for public M&A practitioners in Norway are:
Volatile share prices and valuation gaps are also the main issues here, in addition to the responses given above regarding private M&A. Some public M&A may also be triggered due to difficulty for the target in raising capital, more challenging ECM and DCM/debt financing, which may put downward pressure on the share price making them attractive targets for the right buyer. |
| With respect to public M&A, where does your jurisdiction see most deal activity? | Most public M&A deal activity is categorized as mid-market. |
| With respect to public M&A, what sector sees the most deal activity in your jurisdiction? | Most public M&A deal activity is seen in the Technology, Media and Telecommunications sector. |
| What are your predictions for public M&A deal volume in your jurisdiction during 2024? | Public M&A deal volume in 2024 is predicted to be the same as 2023 deal activity, maybe a little higher. Deal volume was okay in Norway in 2023. With a stabilizing economy (interest rates, inflation) this could pave the way for more activity in 2024. |
| Please share any other insights with respect to M&A in your jurisdiction: | Norway seems to keep up its position as an attractive market for cross-border M&A transactions. |
Global M&A Trends Report
Three things top of mind for private M&A practitioners in Norway are:
- General: economic environment
- Commercial: valuation expectation gaps
- Regulatory: national security and foreign investment restrictions
Core topics continue to be high interest rates, continued uncertainty on soft landing/recession, inflation concerns and more limited availability to bank debt financing. With that environment valuation gaps are an issue, and the market generally wants to await a more stable market (in terms of e.g. interest rates). Geopolitical conflicts are adding to this, making national security a bigger issue.
Most private M&A deal activity is categorized as mid-market.
Most private M&A deal activity is seen in the Energy sector.
Private M&A deal volume in 2024 is predicted to be the same as 2023 deal activity, maybe a little higher. Deal volume was okay in Norway in 2023. With a stabilizing economy (interest rates, inflation) this could pave the way for more activity in 2024.
Three things top of mind for public M&A practitioners in Norway are:
- General: economic environment
- Commercial: valuation expectation gaps
- Regulatory: national security and foreign investment restrictions
Volatile share prices and valuation gaps are also the main issues here, in addition to the responses given above regarding private M&A. Some public M&A may also be triggered due to difficulty for the target in raising capital, more challenging ECM and DCM/debt financing, which may put downward pressure on the share price making them attractive targets for the right buyer.
Most public M&A deal activity is categorized as mid-market.
Most public M&A deal activity is seen in the Technology, Media and Telecommunications sector.
Public M&A deal volume in 2024 is predicted to be the same as 2023 deal activity, maybe a little higher. Deal volume was okay in Norway in 2023. With a stabilizing economy (interest rates, inflation) this could pave the way for more activity in 2024.
Norway seems to keep up its position as an attractive market for cross-border M&A transactions.