Dealmakers Warm Up to Scandinavia
While Southern Europe struggles to bring in foreign money for mergers and acquisitions, the Nordic region is on fire. Sweden, Norway, Denmark, Finland, and Iceland have seen about $288 billion in deals since the financial meltdown began in 2007, according to data compiled by Bloomberg. That puts the region, with a population of about 26 million, well ahead of countries such as Spain, which has about 47 million, and Italy, home to about 61 million. “If I’m selling a business with lots of exposure to France, the interest goes down fast,” says Kristian Terling, who handles the Nordic business in the London office of Los Angeles-based investment bank Houlihan Lokey. “I say ‘Sweden,’ the mood softens.”
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