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More money was spent on merger and acquisition transactions in Jersey than any other offshore jurisdiction in the first half of 2018, a new report has revealed.
According to offshore law firm Appleby, Jersey saw a 6% increase in deal activity as well as a 411% increase in deal value driven by the USD62bn (£47bn) acquisition of Jersey-incorporated Shire PLC by Japan’s Takeda Pharmaceutical – the largest offshore transaction of the first six months of the year.
Following a similar pattern to most of the world’s regions, the volume of offshore deals fell back compared to the latter half of 2017 but value was on the rise, according to 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.
Wendy Benjamin, Partner and Group Head of Appleby’s Corporate Department (pictured), said: “Deals targeting Jersey-incorporated companies accounted for nearly one-third of the value of all offshore transactions in the first half of the year. Additionally, Jersey has gone against a global trend by experiencing an increase in deal volume over the final six months of 2017.”
Jersey-incorporated companies were the subject of 75 deals in the first six months of 2018, together worth $69.86bn. The jurisdiction was also home to two of the 10 biggest offshore deals of the half-year period: the Shire acquisition and the $5.08bn acquisition of business-to-business event organizer UBM by Informa.
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