10:25Panel: CEE M&A updates and sentiments for future
Despite the challenges caused by the Covid-19 pandemic, the CEE M&A deal making remained robust in 2020. Although the M&A volume fell by 22%, the total disclosed deal value rose by 11% to €49.2b. In this session, our panel of prominent M&A practitioners will discuss current sentiment and explore the outlook for M&A across the region in 2021. Panellists will examine how the ongoing pandemic will impact M&A and how the region is likely to emerge.
What are the current trends in investments and what is the market feelings for 2021?
Which sectors have the most potential for increased deal flow over the next year?
How has the pandemic changed the M&A transactions in the region and what factors will shape the market?
What are the key catalysts for deal making?
11:05Panel: CEE healthcare investment trends and opportunities
The CEE healthcare M&A value has increased in 2020 and the global pandemic, ageing population and the growing biotech subsector have boosted the M&A activity in the pharmaceutical, medical and biotech (PMB) sector this year and have contributed to accelerate and attract new investors. In this panel, speakers debate the attractiveness of certain healthcare sub-sectors linked to government policy and funding. Panellists will also what has changed in the healthcare industry M&A landscape.
MvMatthias von Behr
What are the implications of the Covid-19 crisis on specific healthcare subsectors? And what are the effect on valuation and deal structures?
What are the market and regulatory drivers impacting Healthcare M&A transactions?
PE owned players such as Stada and Zentiva on an acquisition drive - Is "innovation through acquisition" a relevant deal driver?
Is the fragmented CEE market with several regional champions supporting "buy and build" strategies?
Associate Director , Archimed
12:00Panel: Hot and bright or cold and dark opportunities for renewables?
The energy sector was amongst industries in 2020 that remained the highest performing sector by value. It is expected to see a robust level of activity in the solar, onshore and offshore wind sectors and it is attracting investors interest due to stable cashflows and the ongoing transition from conventional to green energy. What are the expectations for 2021? The potential for renewable energy generation in the CEE region is high, including solar, wind, hydro and geothermal sources. Our panel of energy players will discuss how this source can be deployed and what the key challenges are.
Are regulatory frameworks for renewables favourable for M&A transactions, which CEE countries are particularly attractive?
What are attractions and drawbacks for different types of renewables: wind / solar / hydro / biomass / others?
Can conventional energy assets (including coal, oil, gas, etc.) still be interesting M&A targets?
Does climate change impact on energy investments? Are companies more aiming to power their operations on renewables?
12:40Panel: The deal landscape and M&A trends in the infrastructure industry
The appetite for infrastructure investment remains strong. The M&A activity for the infrastructure sector in the CEE region is likely to continue to gather pace this year. In this session, panellists will analyse the current landscape of infrastructure dealmaking and discuss the current challenges and opportunities.
What are the key challenges to invest in infrastructure in the CEE region?
Are there sufficient and attractive infrastructure M&A opportunities available in CEE, what is the outlook?
Acquisitions versus greenfield developments – what is the preferred way to enter / expand for which types of investors?
What are expected levels of returns of infrastructure assets in the region and what premia are necessary vis-à-vis Western European infrastructure assets?
13:20Panel: Is it a good or bad time for Private Equity to invest?
The region’s private equity deals fell year on year from 56 to 52 deals, however, activity picked back up once economies were reopened and total deal value rose marginally from €2.3bn in 2019 to €2.6bn in 2020. Speakers will give an overview of the current state of the market and discuss what trends are expected across the CEE private equity sector in the wake of these challenging time.
What type of deals are private equity houses considering for 2021?
What is the best approach for financing transactions in CEE region?
Who are the main international investors interested in the region and what are their long-term goals?
Managing Director, The Rohatyn Group
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Beata Javorcik is Chief Economist of the European Bank for Reconstruction and Development (EBRD) in London. She is on leave from the University of Oxford, where she is the first woman to hold a Statutory Professorship in Economics. She is also a Fellow of All Souls College, Oxford and a Director of the International Trade Programme at the Centre for Economic Policy Research in London. Before taking up her position at Oxford, she worked at the World Bank in Washington DC, where she focused on research, lending operations and policy advice. She holds a Ph.D. in Economics from Yale and a B.A. in Economics (Summa cum Laude) from the University of Rochester.
Mr. Morozov has over 25 years of professional experience in investments, M&A, real estate and NPLs. For the last 14 years Leo has been mostly focusing on real estate in this region as equity investor (Immoeast in Vienna, Lehman Brothers Real Estate Partners in London), co-founder of a distressed real estate investment boutique in Budapest, restructurer and financier at Raiffeisen Bank International in Vienna, and head of investor partnerships for a development company Soravia. During his career he negotiated equity investments, joint venture agreements and debt financing totaling several hundred million EUR, and later restructured real estate NPLs in a comparable amount. At his current role at Fortenova (former Agrokor) he is responsible for the disposal of non-core assets (companies, equity stakes and real estate) and the management of the core real estate of the group.
Senior Executive with almost 20 years of experience in executive and senior managerial roles within complex transactions / operations, supervising diverse teams and managing highly challenging assignments within international environment. A catalyst for successful transformations / reorganizations and international business development initiatives worldwide, complemented by excellent general management skills and a proven track of record.
Jakub worked for international companies like RWE and EPH, where was leading over 80 transactions Europe wide, and helped to move company from EUR 300m EBITDA to the EUR 2,5bn EBITDA via most flagship energy transactions in Europe within last decade. Additionally, Jakub has served as Member of the Boards and CFO of the largest electricity infrastructure company in CEE.
Before joining EPH, Jakub worked as a senior manager for RWE and most prestigious consulting firms in Czech Republic and abroad, where he was responsible for gas business development in the South Eastern Europe and Turkey with regard to Nabucco project as well as post-merger integration, including restructuring of the European utility operating on the Czech energy market to become compliant according to European legislation.
Jakub graduated at Czech Technical University in Prague and participated in several study programs abroad (including University of Notre Dame Australia and Galway-Mayo Institute of Technology in Ireland).
Gary Mazzotti is Vice Chairman of the Board of Directors of EP Infrastructure a.s, he also holds positions throughout the group namely Vice Chairman of the Supervisory Boards of NAFTA and SSD, Member of the Board of EOP, UE, EPC, and a Member of the Supervisory Board of SPPD. He also is an independent director of International School of Prague, EP Power Europe and Czech Grid Holding.
Gary Mazzotti has more than 30 years of experience in finance and operations. Mr. Mazzotti joined EPIF from Vienna Insurance Group where he was a Member of the Board and CFO of Kooperativa and Česká podnikatelská pojišťovna and was responsible for VIG groups operations in Ukraine. Prior to this Mr. Mazzotti held the positions of Senior Investment Director and CFO of PPF Private Equity Division. Mr. Mazzotti graduated in Economics from the University of Reading in the United Kingdom and is also a member of the Institute of Chartered Accountants (ACA).