Best Investment Banks 2011: Sector Winners

Sector Winners

Consumer

Credit Suisse

Credit Suisse advised on Coca-Cola’s $12.3 billion purchase of the North American operations of bottler Coca-Cola Enterprises. Credit Suisse also managed the $700 million initial public offering of Indfood CBP.

Financial Institutions

Bank of America Merrill Lynch

Bank of America Merrill Lynch was sole structuring adviser and bookrunner of $250 million of farm-asset-linked capital securities for the Federal Agricultural Mortgage Corporation, known as Farmer Mac. The securities qualified as core capital. As a result of this transaction, Farmer Mac was the only US government-supported enterprise that experienced significant stress but was able to repair its balance sheet without taxpayer assistance.

Healthcare

J.P. Morgan

J.P. Morgan advised Sanofi Aventis, based in France, on its $19.3 billion acquisition of Genzyme, a US-based biotechnology company. This was the biggest M&A transaction in the biotech industry since Roche’s purchase of Genentech in 2008.

Infrastructure

Scotia Capital

Scotia Capital’s infrastructure teams are active in Canada, the US, Latin America and Europe. The bank was lead underwriter of a $765 million offering of public-private-partnership bonds in July 2010 to fund construction of the new Glen Campus of the McGill University Health Center in Montreal. This was the largest PPP bond deal in Canadian history, and the structure has been used in subsequent deals.

Industrial/Chemicals

J.P. Morgan

J.P. Morgan advised Peoria, Illinois–based Caterpillar on its $8.6 billion acquisition of Wisconsin-based Bucyrus International, which makes surface-mining equipment, as well as hoists, cranes and aerospace systems. The bank also advised Deutsche Bahn, the German national railway, on its $3.7 billion acquisition of UK-based transport firm Arriva.

Media & Entertainment

J.P. Morgan

J.P. Morgan is advising News Corp on its $13.7 billion acquisition of the remaining 61% stake it does not already own in British Sky Broadcasting, also known as BSkyB or Sky TV, the largest pay-TV broadcaster in the United Kingdom.

Metals & Mining

BMO Capital Markets

BMO Capital Markets was the number-one financial adviser on North American mining mergers and acquisitions (M&A) in 2010, with 20 deals totaling $18 billion. In the largest Canadian deal of 2010, BMO Capital Markets was senior adviser to Kinross Gold on its acquisition of Red Back Mining, providing Kinross with assets in Ghana and Mauritania. BMO Capital Markets also ranked as a top-three bank in North American mining equity underwriting, with 56 deals totaling more than $1 billion.

Oil & Gas

Bank of America Merrill Lynch

Bank of America Merrill Lynch was exclusive adviser to Korea National Oil on its $3.1 billion cash offer for UK-based Dana Petroleum. This was the first-ever successful unsolicited offer by a national oil company globally. It also was the first-ever hostile deal by a South Korean company outside of the country. In July 2010, Bank of America Merrill Lynch advised Apache on its $7 billion acquisition of BP’s upstream assets in the Permian Basin, Canada and Egypt.

Power

Morgan Stanley

Morgan Stanley advised International Power, based in the UK, on its $14.3 billion takeover by France-based GDF Suez. Morgan Stanley is also winning the bulk of the deals for clean technology power-plant makers.

Real Estate

J.P. Morgan

J.P. Morgan advised AMB Property on its $16.9 billion merger of equals with Prologis. The two US-based companies build and manage distribution warehouses worldwide. This was the biggest deal in the industry since the recession.

Technology

Credit Suisse

Credit Suisse is well positioned to benefit from a future pickup in the technology sector. Last year, the firm advised SkillSoft, the Ireland-based electronic education services provider, on its $1.2 billion sale to a consortium of US private-equity firms.

Telecom

J.P. Morgan

J.P. Morgan advised CenturyLink, a Louisiana-based telecom services provider, on its $22.3 billion acquisition of Qwest Communications International. The deal will enable Century-Link to expand its national fiber-optic network.

 

alt Winners by Category
 

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