News International Silver lining in Canada’s cloudy M&A market


The Canadian M&A sector remained flat for a second straight year in 2013, reflecting similar numbers from 2012, according to KPMG. The Materials segment also continued to flounder while other market segments showed some growth and promise as debt market liquidity gained momentum during the calendar year.


Total M&A deals involving Canadian companies are expected to amount to US $139 billion in 2013, representing a seven percent increase over 2012. Almost 1,800 deals, virtually the same number as 2012, are expected to be completed by December 31, 2013 based on data supplied by Thomson Financial.


The Materials segment, which includes Mining and Metals, remained in the doldrums. Despite a modest increase in


deal value


over last year, Materials continued to see a decline in the number of transactions, resulting in a 23 percent decrease over 2012.


The cost of debt capital hovered around historic lows in 2013. This allowed debt market liquidity to gain momentum throughout the year and reduce the costs of acquisitions, enticing intergenerational sellers to begin monetizing their assets. Private Canadian companies from coast to coast have come to the market in order to take advantage of strong selling


conditions. KPMG foresees strong selling conditions continuing in Consumer and Industrial markets due in part to strength in automotive sales in North America coupled


with increased consumer spending.


“It was another tough year for the Canadian Materials segment in 2013 but others showed signs of growth and strength which we


expect to spill over into 2014. Debt capital markets have been a catalyst for strong valuations and we anticipate that continuing in the year ahead.” Peter Hatges, President, KPMG Corporate Finance, Inc.


Healthy Salary Hike Predicted for UAE Professionals in 2014


A new report from Morgan


McKinley


suggests professional job opportunities will rise by 8%-10% across the MENA (Middle East and North Africa) region in 2014, with salaries expected to grow by a healthy 6% to 8%. According to the latest Morgan McKinley UAE Salary Survey Guide - compiled annually by the region’s leading


professional


services recruitment firm – following a relatively subdued 2012 where reverberations from the Eurozone crisis impacted on recruitment, economic confidence returned to the UAE in 2013. The recruiter


forecasts that this restored positivity will continue to gain momentum throughout 2014, as the region focuses on the infrastructure, tourism and construction sectors, with Expo 2020 predicted to be a major factor in jobs growth.


Based on observations from the past year, together with hard facts and figures on gross salaries, the Salary Survey Guide 2014 provides a barometer of professional employment activity across a number of sectors, including banking and financial services, accountancy and finance, energy, construction, supply chain


and procurement,


manufacturing and office support.


Trefor Murphy, Morgan McKinley’s UAE managing director, commented, “The survey points to a number of key growth areas for 2014, in terms of both job opportunities and salary levels. Rising levels of demand for consumer goods means that sales and marketing and supply chain professionals will be particularly sought after across the Gulf region. Elsewhere, we’re seeing a growth in opportunities for power generation professionals, triggered by the boom in activity across both the green and


traditional energy sectors. Meanwhile, inward and local investment in sectors such as FMCG, packaging and chemicals is creating demand for manufacturing professionals,


especially


those with knowledge of techniques such as Six Sigma, as well as accountants.


Murphy adds, “With many new projects announced recently, there is a particular requirement for specialists in the construction oil & gas industries, with Iraq especially short of oil industry experts. Finally, with the three main credit rating agencies improving their ratings, the high level of business activity,


Despite this positive picture for the region’s professional job seekers, Morgan McKinley points out that changes in the cost of living - and the resulting impact on disposable income - are far harder to predict.


Murphy concludes, “It’s safe to say that in many countries “the only way is up”, putting pressure on employers and presenting candidates with some tough choices.”


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and improvements in balance sheets and liquidity, the banking and financial services sector is experiencing buoyant employment levels.”


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