Mediobanca Acquires Two-thirds of Investment Banking Firm MMA

According to information obtained by French business daily Les Echos, MMA was valued at in the region of $180 million – not bad for a business set up a handful of years ago by the enfant terrible of French finance, Jean-Marie Messier, and the former co-director of Lazard in Paris, Erik Maris, given the fierce competition in the sector from rivals Rothschild & Co. and Lazard.

Targeting cross-border deals 

Buoyed by €50 million in commissions and with annual net profits of 15 million, MMA is in rude health. In just eight years of existence the bank has been involved in over 200 growth operations or the recomposition of the capital of industrial groups, such as the high-profile purchase of Switzerland’s Ceva Logistics by Marseille-based CMA CGM or the acquisition of Gemalto by Thales.

While, neither Mediabanca nor MMA awaited this partnership to expand internationally the (between them they have offices in Paris, Milan, Madrid and New York), the two companies envisage becoming increasingly involved in their clients cross-border deals. At a time when Brexit is altering the financial landscape in Europe, the timing of the deal would appear to be advantageous. MMA will conserve its autonomy, but synergies are expected.

Reacting to the deal, Jean Marie Messier and Erik Maris declared “when advising on major deals concerning several countries it is always wise to take advantage of beneficial alliances.”    

By Firman Sylla