Lactalis shakes up loan market starved of M&A but deal size disappoints

27 Apr 2011

A loan to finance the creation of the world’s largest dairy group has accelerated the European acquisition finance market’s recent revival, but bankers are still waiting for a jumbo deal to spark M&A lending into overdrive.

While the facility funding Lactalis’s Eu3.4bn takeover of Parmalat is a much needed new money transaction and quickly follows French compatriot Vivendi’s recent Eu5bn revolver to back its buy-out of Vodafone’s 44% stake in SFR, many market participants are still hoping for a loan to match the benchmark ...

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