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Accenture: Euro Debt Crisis Drives Search for Eurozone Acquisitions
November 27, 2012
By Rob Starr, Content Manager, Big4.com
According to new research by Accenture (NYSE: ACN), half of eurozone-based companies are actively seeking acquisitions within the eurozone in response to the currency and debt crisis. The research, published in a report: Exploring the Eurozone: take cover or take advantage, covered France, Germany and Spain, as well as China, the UK and the United States. Ninety-six percent of responding companies have revenues of at least $1bn and more than half report revenues of at least $5bn.
Fifty percent of surveyed eurozone companies say they will begin to seek acquisitions in the currency area immediately or have already started doing so (58 percent of German, 57 percent of Spanish and 36 percent of French respondents). This compares to 38 percent of companies outside the Eurozone.
Likewise, eurozone companies are more likely to seek joint ventures (JVs) in the currency area in response to the crisis. Forty-five percent are actively seeking JVs compared to 34 percent of companies outside the eurozone. German companies are most eager (56 percent) followed by Spanish companies (48 percent).
A majority (55 percent) of worldwide respondents say they are delaying investment in the eurozone and exactly half say their long term investment plans are now more focused on emerging markets due to the debt crisis. Nevertheless, confidence in the currency area remains as a quarter of French and Spanish respondents (25 percent and 27 percent respectively) and 64 percent of German companies say that the crisis has made them accelerate their investment at home or elsewhere in the eurozone