Brexit and cheap pound attract investors to the UK – Daily News – Lisbon

British group that makes chips for mobile phones has been bought for 26 billion euros. It is the biggest deal since the referendum on the EU, but is far from the only

At the beginning of the month, China AMC Theatres announced the purchase of UCI cinemas, CEO Adam Aron I set the future: “I believe we can be the first company to announce a multi-million dollar acquisition in Europe, taking advantage of favorable exchange rates but I do not think we are the last..” He hits. In recent weeks, several companies have turned attention to the UK, taking advantage of the pound depreciation period as a result of the referendum result of 23 June, which decided to leave the European Union.

For Sale Odeon cinemas & amp; UCI, based in London, followed by the purchase of low chain – cost, Poundland, a South African company, Steinhoff, and yesterday there was another mega-operation: Softbank bought the Japanese ARM Holdings for 29 billion dollars (26 billion). It was the largest acquisition after chosen to exit the EU and already allows to foresee a shopping market revitalization and sales in the UK.

“In the long term, brexit is not positive and the uncertainty is typically the greatest enemy of the market mergers and acquisitions (M & a in English), but the short term there will be great business opportunities, “said the FT, Scott Barshay, M & amp department; a in the firm Paul Weiss, USA <. / p>

the sale of the ARM holdings by 26 billion euros is also the largest acquisition in the history of Softbank, which in 2013 paid 19 billion for control of the telephone operator Sprint. The company is one of the largest chip supplier for Samsung, Huawei and Apple and hopes now to strengthen its position in the telecoms market.

It is not just big business that are attracting investors to the UK. Chinese and Asian companies are particularly active – and even surprising in the areas of business that première. Last week, the gaming company Splash Damage and its subsidiaries, Fireteam and Warchest, was bought for 150 million dollars (135 million euros) to a Chinese company whose business is based on the marketing of poultry, Leyyou Technologies, who wants to strengthen its business area.

“we are receiving more proposals of interest of Asian companies in business in the UK since the brexit” confirmed to the FT, an investment bank. Also managing risk and investment funds are pursuing especially the housing market looking for business at a bargain price.

Rui Barbara, asset manager at Carregosa, assumes that interest will tend to be greater the more are advantageous business. “The brexit only potentiate more acquisitions and mergers become cheaper and more attractive assets to buyers,” he told DN / / Mad Money, remembering that “as many companies based in the UK are multinational, with outside revenue Zone pound, should not feel the pound devaluation of the consequences “- currency worth $ 1.32 yesterday and was equivalent to 0.83 euros once the single currency has appreciated enough against the British pound

in the case of ARM holdings, Softbank assumed that the interest was already back. However, Eduardo Silva, the XTB manager, has no doubt that the brexit determined the time for acquisition. “The commitment to create jobs and invest in ARM Holdings, which will keep autonomy reflects an investment in an unquestionable value of company growth ten times the industry and future projects of creation of evident value. What can we assign to brexit is timing of the operation. “

And in the future? “In the coming months we must watch the progress in this direction, companies that were already being evaluated and may have to defend purchase attempts. The pound sterling will be decisive,” he explains.

On the other hand are the purchases of British companies outside Europe. Since the beginning of the year, the acquisitions by UK companies fell by 70% over the same period of 2015. Meanwhile, the global market for mergers and acquisitions fell 20%.