BusinessCompany NewsEY: mining deals on the way

EY: mining deals on the way

Increased merger and acquisition activity and asset fire sales predicted in mining sector

Ernst & Young is predicting a spate of merger and acquisitions
transactions in the second half of the year as indebted mining companies are
forced to sell assets at distressed prices.

The E&Y report highlights a gap between valuation expectations of buyers
and sellers of mining assets, but says that it is expected to narrow later this
year.

A number of valuable projects exist, but their owners lack the means to get
them off the ground, Michael Lynch-Bell, the report’s author, said.

He is forecasting a number of ‘substantial’ deals, in the range of
£1.4-£7.2bn, from cashed-up mid tiers and specialist funds.

Further reading:

M
&A begins to show signs of recovery

Recession
strategy: surgery, not butchery

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