2019 has been a prosperous year for deal activity in Norway.
While Europe and the Nordics in general experienced downward M&A trends last year, Norway’s M&A market remained very strong. In Mergermarket's 2019 league table for Norway, Thommessen rank as number one law firm by value with a total deal value of USD 15,452 million.
- Thommessen has one of Norway’s largest and most experienced M&A teams, providing cutting-edge advice on the largest and most complex M&A-transactions in the market, as well as handling a big volume of the small- and mid-cap situations, says Christian Grüner Sagstad, head of Thommessens M&A practice.
In 2019 Thommessen's projects has, among others, included Vår Energi's acquisition of ExxonMobil's remaining field interests on the Norwegian continental shelf, EQT's sale of AutoStore and the merger between Eidsiva Energi and Hafslund E-CO.
The volume in 2019 has been driven by strong underlying fundamentals of the economy, good availability of targets for sale and solid domestic and inbound interest. The large international private equity firms also seems to have increased their attention on Norwegian targets.
- The M&A-pipeline for 2020 looks very promising. Access to finance remains favorable, there is good appetite in the bond market and plenty of dry powder within Private Equity. Oil and gas, aquaculture and seafood, technology and business services are likely to see strong levels of activity in 2020, Christian predicts.