Bloomberg News reports that sharing in the work on Anheuser-Busch InBev’s $104bn takeover of Cape Town-born SABMiller helped Deutsche Bank overcome what is shaping up to be the worst year for the industry in South Africa since Bloomberg began compiling records in 2004.
“It was very positive to see this mega deal get done,” Simon Denny, managing director and investment banking head for the lender’s Johannesburg-based unit, said in an interview. “Complex, large-scale mergers and acquisitions in South Africa have been scarce.”
Transactions in South Africa are grinding lower as the slowest economic expansion since the 2009 recession and political upheaval deters companies from following through on deals. Winning a role on the brewing deal is a bright spot for Deutsche Bank in the face of mounting litigation expenses tied to U.S. mortgage-backed securities.
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