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Jersey saw an 86% increase in Mergers and Acquisitions (M&A) deal value in 2017, as deal activity rose across offshore jurisdictions, according to a report released by offshore law firm Appleby.
A total of 129 deals representing $19.4bn (£13.3bn) in value were recorded in Jersey last year. While value was up, the number of deals marked a decrease when compared to the previous year.
Wendy Benjamin, partner and group head of Appleby’s Corporate Department in Jersey, said: “Jersey recorded more than USD$19bn in deals in 2017, representing a significant increase over the previous year. The jurisdiction was also home to three of the 10 largest deals recorded across the offshore region.”
The latest edition of Offshore-i, an Appleby report that provides data and insight on merger and acquisition activity in the major offshore financial centres, focuses on transactions announced over the course of 2017. In addition to the rise in deal activity, it also found that 2017 was the busiest year on record for offshore IPOs.
Across offshore jurisdictions, there were 2,771 deals targeting offshore companies in 2017, representing a total value of $227bn, the report found. This marked an increase over 2016, which saw 2,735 deals recorded at a value of USD219bn.
Pictured: Cameron Adderley, Partner and Global Head of Corporate at Appleby.
Cameron Adderley, Partner and Global Head of Corporate at Appleby, said: “In the face of the substantial geopolitical uncertainty which overshadowed 2017, the offshore region’s positive performance is all the more remarkable. These deals were led prominently by acquisitions, although a number of companies also chose to add additional financing firepower by issuing new stocks and bonds to eager investors.”
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