Economics is increasingly driven by politics. Today's podcast explores Teresa May's speech, the rhetoric on free-trade agreements, immigration restrictions and the possible market impact of the Supreme Court ruling, with Bilal Hafeez in conversation with Jordan Rochester.
9 JAN: The weak dollar revolution could be tweeted
Ahead of next week's Trump inauguration, we look at his proposals on international trade which could signal one of the largest reversals in US bipartisan policy in decades and see a weak dollar policy.
In this week's podcast, Kevin Gaynor, Head of International Research, joins Bilal to discuss how the markets have moved over the course of the past year, as well as his predictions for the US economy.
After the resounding 'No' result in the weekend's referendum in Italy and with President-elect Trump announcing his proposed line up, our Chief US Economist, Lewis Alexander, chats with Bilal Hafeez, Head of Fixed Income Research in EMEA.
There is potential shock lying ahead in the Euro-area elections in 2017 and our Euro area economist, Anna Titareva, speaks will Bilal Hafeez on the possible volatility in the upcoming elections and how it may impact European economies.
In the first in our series of weekly economic podcasts, Bilal Hafeez, Head of Fixed Income Research in EMEA, outlines 14 factors likely to drive continuing geopolitical uncertainty in 2017.
Mitsui Sumitomo Insurance / Amlin
Financial Advisor to Mitsui Sumitomo Insurance on its acquisition of Amlin
Mitsui Sumitomo Insurance / Amlin
In a bid to seek growth outside of its home market, Mitsui Sumitomo Insurance (MSI), a subsidiary of MS&AD Insurance of Japan set its eyes on Amlin, a British provider of specialty insurance and reinsurance with solid presence established in the Lloyd's of London marketplace. Acting as a financial advisor to MSI, Nomura played a key role in a deal - the largest ever acquisiton of a European insurer by a Japanese company - which increases MS&AD's presence in the Lloyd's market and further expands its insurance business in Europe.
Financial Advisor to Panasonic on its acquisition of Hussmann
Panasonic / Hussmann
On the acquisition of Hussmann, a Missouri-based manufacturer of refrigerated display cases and systems from private equity firm Clayton,Dubilier & Rice, the majority owner, and industrial group Ingersoll Rand, Nomura acted as Financial Advisor to help Japanese electronics giant Panasonic break into the U.S. food distribution industry. The deal allows Panasonic to combine its technology and products with Hussmann’s leading share in the strengths in customer relationship, maintenance and services.
Sole Financial Advisor to Recruit on its acquisition of USG People
Recruit Holdings / USG People
When Japan’s Recruit, the leading human resources and information services company, wanted to pursue an international expansion, we supported our client gain an established entry point into the continental European staffing market. We acted as Sole Financial Advisor to Recruit on the acquisition of all shares of USG People, a Netherlands-based specialized provider of employment services listed on the Amsterdam Stock Exchange.
Sole M&A Advisor to ASTM and SIAS on the acquisition of a majority stake in Ecorodovias and Vem ABC
ASTM-SIAS / Ecorodovias-Vem ABC
Acting as the sole M&A advisor and the fairness opinion advisor to ASTM and SIAS, Nomura assisted the Italian toll road operators gain exposure to the developing emerging market toll road infrastructure of Brazil. Through complex transactions via capital increase, ASTM and SIAS, along with their Brazilian partner CR Almeida, will jointly control and co-manage two controlling stakes in Ecorodovias, the listed infrastructure and logistic operator, and in Vem ABC, a monorail concession under development in Sao Paulo. The transaction is transformational for ASTM/SIAS, more than doubling the km of toll road network under concession and significantly diversifying the Group outside of Italy.
Sole Financial Advisor to American Air Filter, a wholly owned subsidiary of Daikin, on its acquisition of Flanders
Daikin / Flanders
Daikin Industries, through its subsidiary American Air Filter (AAF), has acquired U.S.-based Flanders, to foster air filter business as the third pillar of Daikin’s revenue driver behind the air conditioning and chemicals. Nomura acted as Sole Financial Advisor to AAF in this transaction, complementing Daikin’s portfolio with Flanders’s high-end products related to pharmaceuticals, biotechnology, and food processing with a whole sale and retail sales network that supplies the U.S. nationwide.
In order to focus on other Irish whiskey brands, Pernod Ricard decided to divest Paddy. Following an auction process led by Nomura, Sazerac has entered into a long-term supply agreement with Irish Distillers (wholly owned subsidiary of Pernod Ricard) to provide the whiskey out of its Midleton distillery. This represents a key step for Sazerac to internationalize outside of the US and enables Pernod Ricard to focus on its remaining portfolio.