Datasite&Mergermarket：交易驱动力：2025年第三季度欧洲、中东和非洲地区并购趋势报告（英文版）（52页）.pdf

1、Deal Drivers:EMEA Q3 2025A spotlight on mergers and acquisitions trends in 2025 Note:10px between end of text and end of darker grey boxContentsForeword:Waiting for a soft landing 03Outlook:EMEA heat chart 04Summary:The great concentration 06Spotlight:Netherlands 10Spotlight:Hungary 13UK&Ireland 16D

2、ACH 20France 24Nordics 28Italy 32Iberia 36Benelux 40CEE&SEE 44Turkey,Middle East&Africa 48About this report 52Foreword:Waiting for a soft landingAfter a year of cuts,the European Central Bank(ECB)kept rates on hold through Q3 as inflation settled near its target and the effects of earlier easing con

3、tinued to feed through.The ECB now projects euro-area GDP growth of around 1.2%in 2025,up slightly from mid-year estimates,and headline inflation of around 2.1%,indicating a soft landing is within reach.Yet the central bank has acknowledged that economic uncertainty is muting the transmission of mon

4、etary policy,as businesses and households hesitate to borrow despite lower financing costs.Across the wider EMEA region,external risks persist.While several of the planned US tariffs on imports were suspended pending legal review,a flare-up of tensions in October following Chinas decision to impose

5、export controls on rare-earth minerals,and a subsequent retaliation from the US administration,has undermined sentiment.Resetting controls With financing stable but confidence unsettled,M&A activity is being shaped less by capital costs and more by clarity of outlook.Companies with predictable cash

6、flows and limited exposure to trade volatility are attracting greater buyer attention,while cross-border bidders potentially face a more complex regulatory backdrop.In September,the European Commission called for a wide-ranging review of the EU Merger Guidelines to be fast-tracked,with policymakers