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STATUS OF THE PRIVATE EQUITY MARKET IN THE CEE COUNTRIES

STATUS OF THE PRIVATE EQUITY MARKET IN THE CEE COUNTRIES. C5 CEE PRIVATE EQUITY FORUM DAVID BERNARD 23 MARCH 2009. M&A ACTIVITY DROPS EVEN FASTER IN CEE THAN ELSEWHERE. Global M&A Activity. M&A Activity With CEE Involvement. CEE M&A Financial Advisory Fee Pool.

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STATUS OF THE PRIVATE EQUITY MARKET IN THE CEE COUNTRIES

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  1. STATUS OF THE PRIVATE EQUITY MARKET IN THE CEE COUNTRIES C5 CEE PRIVATE EQUITY FORUM DAVID BERNARD 23 MARCH 2009

  2. M&A ACTIVITY DROPS EVEN FASTER IN CEE THAN ELSEWHERE Global M&A Activity M&A Activity With CEE Involvement CEE M&A Financial Advisory Fee Pool • Drop in M&A volume more pronounced in CEE (-44% 2008 vs. 2007) than in rest of the world (-37%) • Average deal size in CEE goes from $14m in 2000 to $85m in 2007 and $3m in 2009 • Financial advisor fees do not decrease quite as sharply due to deal size effect • Particularly slow start of 2009 in CEE $Mil Source: Thomson Reuters / Freeman & Co • NB: Central & Eastern Europe defined as including Austria and Russia; • ‘CEE Involvement’ defined as target nation or acquiror nation in CEE

  3. VOLUME DROP IS REFLECTED ACROSS MOST INDUSTRY SECTORS CEE M&A Activity CEE PE-Backed M&A Activity Source: Thomson Reuters

  4. CROSS-BORDER M&A ACTIVITY IN CEE FALLS IN LINE WITH GENERAL M&A CEE M&A Activity CEE Cross-Border M&A Activity Source: Thomson Reuters

  5. PRIVATE EQUITY BACKED M&A ACTIVITY FALLS EVEN FASTER THAN STRATEGIC M&A PE-Backed M&A Activity M&A with Strategic Buyer Source: Thomson Reuters

  6. ECM ACTIVITY DROPS EVEN FASTER IN CEE THAN ELSEWHERE Global ECM Activity CEE ECM Issuers CEE ECM Issuance Fee Pool • Drop in equity issuance more pronounced in CEE (-29% 2008 vs. 2007) than in rest of the world (-17%) • Average equity deal size in CEE is stable in 2008, and about 80% higher than in rest of the world • Particularly slow start of 2009 in CEE $Mil Source: Thomson Reuters / Freeman & Co

  7. IN NUMBER OF EQUITY ISSUANCE DEALS, THE SLOWDOWN IS MUCH HIGHER IN CEE Global ECM Activity EMEA ECM Activity CEE ECM Activity Number of Issues Source: Thomson Reuters

  8. DEBT ISSUANCE IN CEE MIRRORS OTHER REGIONS Global Syndicated Loan Issuance Activity CEE Syndicated Loan Issuance Activity Global DCM Activity CEE DCM Activity Source: Thomson Reuters

  9. THE 2008 SURGE IN EQUITY INVESTED REFLECTED A HANDFUL OF LARGE DEALS Source: Thomson Reuters

  10. THE 2008 SURGE IN EQUITY INVESTED REFLECTED A HANDFUL OF LARGE DEALS Source: Thomson Reuters

  11. BUYOUT ACTIVITY DOMINATES ALL OTHER INVESTMENT STAGES IN CEE Source: Thomson Reuters

  12. FUNDRAISING HAS GONE DOWN AS IN OTHER REGIONS Source: Thomson Reuters

  13. EUROPEAN PRIVATE EQUITY FUND PERFORMANCE AS OF 31-DEC-2008 Based on cashflows from 1314 funds Source: Thomson Reuters / EVCA

  14. CEE PRIVATE EQUITY FUND PERFORMANCE AS OF 31-DEC-2008 Based on cashflows from 61 funds Source: Thomson Reuters

  15. CONTACT DETAILS • david.bernard@thomsonreuters.com, +33 6 87 97 87 81 • Data contributions & surveys: rosette.tyers@thomsonreuters.com, +44 20 7542 9066 • www.thomsonreuters.com Thank you

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