Mathieu Luypaert, Associate Professor Vlerck Business School on

„The Belgian mergers and acquisitions market gradually seems to be reaching its peak. It is not just the number of transactions but also the selling prices which rose for the fifth year in a row in 2017. The highest valuations are found in the real estate sector followed by pharmaceuticals, technology and healthcare. The demand is greater than the supply and competition is increasing. In addition, more and more foreign players are showing an interest in Belgian companies. In view of the anticipated further growth in 2018, there is a danger of overheating (i.e. the profitability will no longer be in proportion to the risks of the acquisition). Finally, the significant increase in debt financing and drop in the equity stake in a transaction are also striking. …“ read more

The acquisition prices also rose for the fifth year in a row, across all sectors.
— Mathieu Luypaert