The news that inflation is returning closer to the ECB’s 2% target added to expectations that this rate hiking cycle may be over. However, data showed that the eurozone economy contracted in Q3, with the preliminary flash estimate of GDP indicating a decrease of -0.1% compared to the previous quarter.
For M&A, deal activity in October involved 99 deals in total; that’s an increase of 17 deals year on year. A couple of the notable ones are:
- Koninklijke Ahold Delhaize NV acquired Profi Rom Food SRL
- Restaurant Group plc was acquired by Apollo Global Management Inc
- Around a 70% stake in Lucas Bols Holding B.V. was acquired by Nolet Distillery
The most active sector (in number of deals) in October was Accommodation, as shown by
- Six Senses Rome being acquired by Statuto Group,
- Barcelo Hotel Group acquiring Casablanca and Rabat hotels, and
- Marriott Forest of Arden Country Club and Dalmahoy Hotel & Country Club being acquired by Blackstone Inc.
Read more in the November edition of our newsletter.
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