Credit Suisse's Cestar Sees Chinese Buyers Targeting European High-Yield Names
Europe provides bright outlook for China-related M&A through 2017.
A couple stands on a sidewalk as a Chinese flag flies in Shanghai, China, on Sunday, Jan. 24, 2016. For all the hand wringing over China's economic slowdown, the employment picture has so far remained immune to tumbling stocks, a sliding currency and waning industrial growth.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese buyers are “helping to lubricate the M&A market in Europe,” and their focus now includes more lower-rated companies as well as investment-grade names, according to Mathew Cestar, Credit Suisse’s co-head of credit in EMEA.
Current purchase prices represent “an interesting entry point” particularly in the retail, real estate, sport/entertainment sectors, Cestar said.