GLOBAL FINANCIAL ADVISORY MERGERS & ACQUISITIONS RANKINGS Q1 2012 For data submissions or queries, please contact: General M&A queries may be submitted to: m-a@bloomberg.net For 24 hour global customer support call +1 212 318 2000 +44 20 7330 7500 +65 6212 1000 +81 3 3201 8900 or press the HELP key twice on the BLOOMBERG PROFESSIONAL(R) service. Bloomberg MA <GO> LEAG <GO> MA <GO> LMX <GO> MA <GO> LEAG <GO> 1 . 1 Introduction Table of Contents . 2 Global Market Commentary . 8 Global M&A Activity . 9 M&A League Tables By Industry . 10 Global Announced Deals . 11 Cross Border Announced Deals . 12 Global Private Equity Announced Deals . 38 Disclaimer Bloomberg 2012 1st Qtr Email Fax Phone Contact +1-212-617-3692 mtrindade1@bloomberg.net+1-917-369-3965Mariana TrindadeNorth America leglite@bloomberg.net+44-20-7392-6672 +44-20-7073-3891Liga EgliteEMEA hcho18@bloomberg.net+82-2-3704-1827 +82-2-3702-1627Hyejin ChoAsia Pacific LATAM fsimon5@bloomberg.net+55-11-3048-4669 +55-11-3048-4619Fernando Simon The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors.The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equity-swaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of recapitalizations according to Bloomberg standards. Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and DealSpace & DealBrief newsletters provide summary highlights of weekly M&A activity and top deal trends. Visit {NI LEAG CRL <GO>} to download copies of the final release and a full range of market specific league table results. Type MA <GO> 96 <GO> 82 <GO> to view live rankings. 04/02/2012 Mergers & Acquisitions Financial Advisory Rankings EmailEmail Global Review Bloomberg MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO> Regional Deal Activity Global M&A activity in Q1 2012 fell to $441 billion, the lowest quarterly level since Q3 2009 and a decrease of 26% in value from the same period last year, while global deal count fell by more than 2%. Swiss firms were the most acquisitive they have been in at least a decade, powered by Glencore’s $45 billion all-stock offer for Xstrata, Glencore’s $7.5 billion cash offer for Viterra, and Roche Holding’s $5.4 billion cash bid for Illumina. Acquisitions in India reached a 5-year high with $19 billion worth of transactions announced, representing a year-over-year increase of 28%, led by Sesa Goa’s all-stock offer for Sterlite Industries India for $6.8 billion, which is the 4 th largest transaction of all time in that country. Industry Sector Deal Activity The most actively targeted industries in terms of deal value were Diversified Minerals, Oil Exploration & Production, and Transport Services, with a total combined volume of over $95 billion, representing over 21% of all global volume by dollar. Private equity acquisitions in Q1 2012 fell by more than 40% in terms of aggregate value compared to the same period last year, while average premiums jumped from 16.5% to 28% year-over-year. The Basic Materials and Technology sectors both experienced transaction value growth in excess of 60%, while the Industrials sector remained essentially unchanged, and every remaining sector experienced a drop in aggregate value of 18% or more. Total Volume by Industry (Q1 2012) * All Q1 2012 numbers as of March 31, 2012. 2 Heat Map: Q1 2012 Volume by Region Diversified 1% Utilities 5% Technology 5% Communications 7% Consumer, Cyclical 9% Industrial 13% Consumer, Non- cyclical 12% Financial 13% Energy 15% Basic Materials 20% North America 39% Western Europe 30% Asia Pacific 23% South/Central America 4% Eastern Europe 2% Middle East/Africa 2% Global Review Bloomberg MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO> Global M&A Quarterly Volume Notable Highlights This quarter's aggregate announced deal volume of $441 Bln represents a 26% decline from last year's comparable period. The current slowdown in deal- making activity, already signaled in the second half of 2010, makes this the weakest first quarter since 2003. The Americas saw the sharpest decline in transaction volume, a 36% drop compared to the same period last year, followed by APAC with a 22% decrease. Deal Count 3 EMEA M&A Quarterly Volume Americas M&A Quarterly Volume APAC M&A Quarterly Volume Total Volume (USD Mln) *All Total Value figures in USD millions. * All Q1 2012 numbers as of March 31, 2012. Deal Count Total Volume (USD Mln) Deal Count Total Volume (USD Mln) Deal Count Total Volume (USD Mln) 0 50000 100000 150000 200000 250000 0 500 1000 1500 2000 2500 3000 3500 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012 Q1 Volume Deal Count 0 200000 400000 600000 800000 1000000 1200000 1400000 1600000 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012 Q1 Volume Deal Count 0 100000 200000 300000 400000 500000 600000 700000 800000 0 500 1000 1500 2000 2500 3000 3500 4000 4500 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012 Q1 Volume Deal Count 0 100000 200000 300000 400000 500000 600000 700000 800000 900000 0 500 1000 1500 2000 2500 3000 3500 4000 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012 Q1 Volume Deal Count Global Review Bloomberg MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO> Notable Highlights Over 97% of M&A transactions occurred in the mid-market range (below $500 million in size) and only one deal reached the mega-deal category (over $10 billion in size). Cross border activity accounted for over 51% of M&A volume, over 12% decrease from Q1 2011. Cash continued to be the most dominant form of payment, accounting for 68% of M&A deals announced this past quarter, while 19% percent of all deals were comprised of all-stock payments. Cash & stock deals accounted for about 5.2% of total volume this quarter, representing about 44% decrease year over year. 4 Q1 2012 Global M&A Aggregate Statistics Public Target Multiples # Deals Min - Max Median Deal Type Summary # Deals Volume Percent Total Assets 434 .00 - 493.55 0.85 Company Takeover 2635 277.36B 62.82 Stockholder Eqty 411 .00 - 384.91 1.71 Cross Border 2454 227.3B 51.48 Book Value 407 .00 - 1485.98 1.8 Additional Stake Purchase 1101 124.62B 28.22 Revenue 393 .00 - 3962.23 1.21 Asset sale 1311 75.93B 17.2 Market Cap 373 .00 - 161.82 1.25 Minority purchase 1608 54.33B 12.31 Enterprise Value 359 .00 - 154.86 1.22 Private Equity 1347 52.65B 11.92 Net Income + Deprec 311 .02 - 4347.83 12.33 Majority purchase 509 41.67B 9.44 EBIT 266 .04 - 775.28 12.88 Tender Offer 101 36.92B 8.36 Cashflow from Ops. 242 .04 - 2504.62 11.29 Leveraged Buyout 163 21.92B 4.96 Net Income 281 .02 - 4347.83 17.68 Venture Capital 929 8.23B 1.86 EBITDA 234 .07 - 1284.04 8.59 Private Placement 143 7.73B 1.75 Income B/F XO 247 .02 - 1242.92 18.23 Secondary Transaction 41 5.67B 1.28 Free Cashflow 183 .05 - 4966.86 21.59 Management Buyout 39 2.99B 0.68 Payment Type Summary # Deals Volume Percent Prem ium s Paid # Deals Volume Percent Cash 3844 296.81B 68.35 0-10% 3856 143.38B 57.28 Undisclosed 1877 21.57B 4.97 10.01-25% 41 34.83B 13.91 Stock 228 82.48B 19.00 25.01-50% 72 43.95B 17.6 Cash & Stock 123 22.6B 5.20 50.01-75% 27 20.7B 8.27 Cash or Stock 13 4.73B 1.09 >100% 18 6.75B 2.70 Cash, Stock & Debt 9 571.08M 0.13 Stock & Debt 4 175.38M 0.04 Current Status # Deals Volume Percent Completed 3929 80.70B 18.19 Deal Size Breakdown # Deals Volume Percent Pending 2550 360.85B 81.35 0-500M 6325 141.26B 97.62 Terminated 12 2.05B 0.46 500.01-1000M 71 50.66B 1.10 1000.01-5000M 73 142.24B 1.13 Current Premium # Deals Volume Percent 5000.01-10,000M 9 62.07B 0.14 0-10% 6448 434.5B 98.40 > 10,000M 1 45.31B 0.02 10.01-25% 22 6.78B 1.54 Global Review Bloomberg MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO> $7.57 $8.56 $12.94 $37.25 $134.48 $12.97 $17.35 $17.64 $27.22 $135.56 $- $50 $100 $150 Netherlands UK Brazil Canada US Japan Brazil Switzerland Canada US $7.40 $8.86 $10.62 $14.35 $22.20 $10.24 $10.36 $13.21 $13.99 $24.18 $- $5 $10 $15 $20 $25 $30 REITS-Diversified Bldg-Residential/Commer Medical-Biomedical Transport-Services Oil Comp - E&P Metal-Diversified Medical-Drugs Oil Comp - E&P Investment Companies Private Equity INDUSTRY Americas Notable Highlights 5 COUNTRY Total Volume (USD Bln) . * All Q1 2012 numbers as of March 31, 2012. Total Volume (USD Bln) TOP TARGETS TOP TARGETS TOP ACQUIRERS TOP ACQUIRERS Number of Deals 3600 Volume 237.10B Average Deal Size 143.35M Average Premium 39.09% Acqui rer ACCEL PARTNERS Number of Deals 22 Volume 384.62M Average Deal Size 17.48M Summary Most Acquisitive Company Announce Date Target Name Acquirer Name Total Value (mil.) 3/20/2012 Viterra Inc Glencore International PLC $7,498.9 2/24/2012 EP Energy LLC Access, Apollo, Riverstone $7,150.0 2/17/2012 TNT Express NV United Parcel Service Inc $6,853.3 2/7/2012 Redecard SA Itau Unibanco Holding SA $6,844.2 1/25/2012 Illumina Inc Roche Holding AG $6,051.9 3/30/2012 Cimpor Cimentos de Portugal Camargo Correa SA $5,431.1 3/15/2012 NDS Group Ltd Cisco Systems Inc $5,000.0 3/28/2012 Tyco Flow Control Intl Ltd Pentair Inc $4,900.0 1/27/2012 Solutia Inc Eastman Chemical Co $4,501.4 1/30/2012 ExxonMobi l YK TonenGeneral Sekiyu KK $3,957.0 Global Review Bloomberg MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO> INDUSTRY EMEA Notable Highlights 6 COUNTRY Total Volume (USD Bln) Total Volume (USD Bln) TOP TARGETS TOP TARGETS TOP ACQUIRERS TOP ACQUIRERS . * All Q1 2012 numbers as of March 31, 2012. $9.40 $10.58 $11.44 $25.83 $76.08 $11.01 $16.60 $19.21 $31.17 $62.27 $- $20 $40 $60 $80 Canada Germany Netherlands U.S. U.K. Germany U.K. France U.S. Switzerland Announce Date Target Name Acquirer Name Total Value (mil.) 2/7/2012 Xstrata PLC Glencore International PLC $45,313.7 3/29/2012 International Power PLC GDF Suez $9,489.6 3/20/2012 Viterra Inc Glencore International PLC $7,498.9 2/17/2012 TNT Express NV United Parcel Service Inc $6,853.3 1/25/2012 Illumina Inc Roche Holding AG $6,051.9 3/30/2012 Cimpor Cimentos de Portugal SGPS S Camargo Correa SA $5,431.1 3/15/2012 NDS Group Ltd Cisco Systems Inc $5,000.0 1/30/2012 Thomas & Betts Corp ABB Ltd $3,867.0 1/31/2012 Inoxum stainless steel unit Outokumpu OYJ $3,529.2 2/29/2012 Ahlsell AB CVC Capital Partners Group SAR $2,404.3 Number of Deals 2149 Volume 193.65B Average Deal Size 205.14M Average Premium 28.86% Acqui rer WPP PLC Number of Deals 11 Volume Undisclosed Average Deal Size Undisclosed Summary Most Acquisitive Company $6.54 $6.54 $11.65 $14.56 $45.71 $8.03 $9.97 $10.57 $12.75 $53.48 $- $10 $20 $30 $40 $50 $60 Oil Comp-Explor&Prodtn Medical-Biomedical Electric-Integrated Transport-Services Diversified Minerals Investment Companies Electric-Integrated Diversified Operations Private Equity Metal-Diversified Global Review Bloomberg MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO> INDUSTRY APAC Notable Highlights 7 COUNTRY Total Volume (USD Bln) Total Volume (USD Bln) TOP TARGETS TOP TARGETS TOP ACQUIRERS TOP ACQUIRERS . * All Q1 2012 numbers as of March 31, 2012. $4.96 $6.96 $7.07 $8.35 $11.95 $6.81 $6.97 $8.27 $9.19 $13.46 $- $2 $4 $6 $8 $10 $12 $14 $16 Real Estate Oper/Development Metal-Copper Steel-Speciality Coal Oil Comp-Explor&Prodtn Diversified Operations Import/Export Investment Companies Steel-Producers Diversified Minerals Announce Date Target Name Acquirer Name Total Value (mil.) 2/25/2012 Sterlite Industries India Ltd Sesa Goa Ltd $6,853.6 2/25/2012 Cairn India Ltd Sesa Goa Ltd $5,900.0 2/29/2012 Stainless Steel Department Assets Baosteel Group Corp Ltd $4,071.6 1/30/2012 Exxon Mobi l YK TonenGeneral Sekiyu KK $3,957.0 3/7/2012 Tanjong Energy Holdings Sdn Bhd 1Malaysia Development Bhd $2,808.1 2/29/2012 Steel Assets Baosteel Group Corp Ltd $2,696.1 2/21/2012 Alibaba.com Ltd Alibaba Group Holding Ltd $2,353.9 2/15/2012 Shanxi Fenxi, Shanxi Meijin Group Shanxi Meijin Energy Co Ltd $2,334.7 3/12/2012 Zoll Medical Corp Asahi Kasei Corp $2,062.9 2/14/2012 US Regional Mall Portfolio Canada Pension Plan Invest. $1,800.0 Number of Deals 2187 Volume 130.06B Average Deal Size 89.02M Average Premium 26.50% Acqui rer ADVANCE RESID. INVEST. Number of Deals 17 Volume 337.61M Average Deal Size 19.86M Summary Most Acquisitive Company $10.08 $10.55 $15.91 $18.82 $31.96 $6.39 $8.23 $17.12 $26.96 $35.44 $- $10 $20 $30 $40 Australia U.S. Japan India China Malaysia South Korea India Japan China Bloomberg 43.53% Americas 19.23% Asia-Pacific ex-Japan 33.63% EMEA 3.62% Japan Regional Breakdown by Target Region/Country 8 MA <GO> LEAG <GO> MA <GO> LMX <GO> MA <GO> LEAG <GO> - 2011 2012 Global M&A Activity 1/1/12 3/31/12 CHANGE REGION VOLUME DEAL COUNT Regional Breakdown by Target Region/Country USD (Mln) VOLUME USD (Mln) DEAL COUNT VOLUME Americas 3,032 -35.56% $191,454 $297,094 2,787 243 -26.94% $18,753 $25,667 205 Latin America 2,812 -36.61% $173,587 $273,852 2,604 North America 370 76.28% $37,255 $21,134 357 Canada 2,403 -45.89% $135,314 $250,087 2,212 United States EMEA 1,628 -13.94% $147,919 $171,884 1,714 169 -63.86% $10,667 $29,515 202 Eastern Europe 1,300 1.67% $130,232 $128,089 1,353 Western Europe 479 99.26% $76,083 $38,182 422 UK 204 -28.61% $11,214 $15,709 191 Germany 121 -59.74% $6,306 $15,665 231 France Asia-Pacific ex-Japan 1,356 -18.94% $84,580 $104,346 1,679 175 -25.19% $10,079 $13,473 188 Australia 17 -86.03% $127 $908 15 New Zealand 482 20.96% $31,963 $26,424 675 China 83 -46.01% $4,071 $7,540 129 Hong Kong 226 -36.84% $13,105 $20,750 268 South East Asia 174 27.16% $18,823 $14,803 160 India Japan 471 -24.49% $15,906 $21,065 417 *Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions. $441,279 6,521 $594,442 6,627 -25.77% Global $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 0 2,000 4,000 6,000 8,000 10,000 2008 Q2 2008 Q3 2008 Q4 2009 Q1 2009 Q2 2009 Q3 2009 Q4 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 2011 Q3 2011 Q4 2012 Q1 / QUARTERLY VOLUME USD (Mln) #Deals Bloomberg 9 MA <GO> LEAG <GO> MA <GO> LMX <GO> MA <GO> LEAG <GO> M&A League Tables by Industry - 2012 01/01/12 03/31/12 FIRM RANK MKT SHARE VOLUME DEAL COUNT USD (Mln) Global Announced Deals - Basic Materials Citigroup Inc 7 1 60,723 67.8 JP Morgan 6 2 57,940 64.7 Morgan Stanley 8 3 55,912 62.4 Deutsche Bank AG 4 4 54,378 60.7 Barclays Capital Group 2 5 49,815 55.6 Credit Suisse Group AG 2 6 47,351 52.8 Goldman Sachs & Co 4 7 46,636 52.0 Nomura Holdings Inc 2 8 46,347 51.7 BNP Paribas SA 2 9 45,611 50.9 Bank of America Merrill Lynch 5 10 10,010 11.2 $89,613 449 TOTAL - 2012 01/01/12 03/31/12 FIRM RANK MKT SHARE VOLUME DEAL COUNT USD (Mln) Global Announced Deals - Energy JP Morgan 6 1 20,343 30.5 Citigroup Inc 7 2 16,319 24.5 Barclays Capital Group 7 3 13,038 19.5 RBC Capital Markets 11 4 11,033 16.5 Tudor Pickering Holt & Co 3 5 10,000 15.0 Credit Suisse Group AG 6 6 9,806 14.7 Deutsche Bank AG 3 7 9,383 14.1 Bank of America Merrill Lynch 8 8 9,137 13.7 Morgan Stanley 6 9 9,070 13.6 Evercore Partners Inc 6 10 8,167 12.2 $66,726 411 TOTAL - 2012 01/01/12 03/31/12 FIRM RANK MKT SHARE VOLUME DEAL COUNT USD (Mln) Global Announced Deals - Financial Citigroup Inc 4 1 9,360 16.1 Rothschild 10 2 8,422 14.5 Banco Itau BBA SA 2 3 7,163 12.3 Goldman Sachs & Co 16 4 6,959 12.0 BR Partners 3 5 6,844 11.8 Bank of America Merrill Lynch 6 6 6,318 10.9 Deutsche Bank AG 9 7 6,288 10.8 JP Morgan 10 8 5,864 10.1 Morgan Stanley 12 9 4,542 7.8 UBS AG 5 10 3,714 6.4 $58,057 733 TOTAL USD (Mln) DEAL COUNT VOLUME MKT SHARE RANK FIRM 03/31/12 01/01/12 2012 - Global Announced Deals - Industrial Bank of America Merrill Lynch 8 1 18,806 32.8 Goldman Sachs & Co 10 2 14,450 25.2 Deutsche Bank AG 11 3 12,481 21.8 Lazard Ltd 7 4 12,106 21.1 Morgan Stanley 8 5 10,030 17.5 RBC Capital Markets 3 6 7,840 13.7 UBS AG 7 7 7,614 13.3 Canaccord Genuity Corp 1 8 7,499 13.1 TD Securities Inc 1 8 7,499 13.1 Credit Suisse Group AG 8 10 7,460 13.0 $57,314 908 TOTAL [...]... $8,000 10 4.4 200 1 10 6.6 Equita SIM SpA 11 3.2 144 1 - - Intesa Sanpaolo SpA 12 2.7 122 2 12 5.6 UBS AG 13 1.3 59 1 - - 1.3 $4,000 Somerley Ltd 14 0.1 4 1 - - 0.1 $0 Lazard Ltd 15 0.0 0 2 5 11.3 Banco BTG Pactual SA 15 0.0 0 1 - - - Banco Votorantim SA 15 0.0 0 1 - - - Barclays Capital Group 15 0.0 0 1 - - - KPMG Corporate Finance LLC 15 0.0 0 1 - - - $4,574 88 120 TOTAL 40 0 20 (11.3) 80 08 20 Q2 08... PLC 12 0.6 60 1 13 9.7 (9.1) $10,000 80 DC Advisory Partners Ltd 13 0.3 26 3 27 0.1 0.2 $5,000 40 Cuatrecasas Goncalves Pereira 13 0.3 26 1 - - 0.3 $0 Macquarie Group Ltd 15 0.2 26 1 - - 0.2 McQueen Ltd 15 0.2 26 1 - - Credit Suisse Group AG 17 0.0 0 1 12 9.9 Deloitte Touche Tohmatsu 17 0.0 0 1 - - - KPMG Corporate Finance LLC 17 0.0 0 1 - - - 17 0.0 - - - N+1 Srl TOTAL 0 1 $10,765 82 08 20 Q2 08 20... Barclays Capital Group 10 10.7 2,404 1 38 0.0 10.7 Standard Chartered PLC 11 9.9 2,227 2 - - 9.9 Svenska Handelsbanken AB 12 9.0 2,037 1 - - 9.0 6.3 1,428 4 6 8.5 13 6.3 1,428 1 - - 6.3 Royal Bank of Scotland Group PLC 15 3.5 789 2 26 1.2 2.3 Greenhill & Co Inc 16 1.8 410 1 - - 17 1.7 386 3 - - 18 1.4 324 2 - - 19 1.4 308 1 31 0.5 1.4 3 12.4 300 $80,000 250 $60,000 200 150 $40,000 100 $20,000 0.9 20... 20.4 3,529 1 - - 20.4 $60,000 Goldman Sachs & Co 9 12.9 2,241 4 4 36.0 (23.1) $50,000 10 12.1 2,090 3 5 26.7 (14.6) 11 10.2 1,772 2 1 51.7 (41.5) $30,000 Banco Bilbao Vizcaya Argentaria SA 12 3.6 631 1 - - 3.6 $20,000 Banco Santander SA 12 3.6 631 1 - - 3.6 $10,000 Banco Bradesco BBI SA 14 2.7 471 2 - - 2.7 $0 Banco Itau BBA SA 14 2.7 471 2 - - 2.7 Banco BTG Pactual SA 14 2.7 471 1 - - 2.7 Greenhill... 2.6 420 2 - - 2.6 FIH Erhvervsbank A/S 9 2.4 393 1 - - 2.4 10 2.4 393 1 10 14.3 Jefferies Group Inc QUARTERLY VOLUME USD (Mln) / #Deals $100,000 600 500 $80,000 400 $60,000 300 (11.9) 2.4 393 1 23 1.1 1.3 Investec PLC 12 1.6 254 1 - - 1.6 Greenhill & Co Inc 13 1.5 251 1 - - 1.5 BMO Capital Markets Corp 14 1.2 200 2 - - 1.2 Deutsche Bank AG 15 1.2 198 1 3 28.8 Gleacher & Co Inc 16 0.6 106 1 - - Gresham... 2.4 671 2 - - 2.4 Stephens Inc 12 2.4 656 1 - - 2.4 Wells Fargo & Co 12 2.4 656 1 - - 2.4 Banco Santander SA 14 2.3 631 1 1 43.3 (41.0) Credit Suisse Group AG 15 1.9 525 1 12 7.1 (5.2) Banco Votorantim SA 16 1.2 320 2 32 0.2 1.0 Banco Espirito Santo de Investimento SA 17 1.2 319 1 16 2.7 (1.5) Caixa Banco de Investimento SA 17 1.2 319 1 22 1.0 0.2 G5 Evercore 19 1.1 302 2 - - 1.1 20 1.1 - - 1.1 Banco... Suisse Group AG 13 3.4 923 2 3 25.2 (21.8) $10,000 50 Skandinaviska Enskilda Banken AB 14 2.6 708 1 - - Rothschild 15 2.4 651 6 11 9.8 (7.4) Citigroup Inc 16 1.8 494 2 26 1.3 0.5 DTZ Debenham Thorpe 17 0.8 220 1 - - 0.8 Arsene Taxand 18 0.8 218 1 - - 0.8 CBRE Services Inc 18 0.8 218 1 - - 0.8 18 0.8 - - 0.8 Cushman & Wakefield Inc TOTAL 218 1 $26,907 258 $0 0 08 20 Q2 08 20 Q3 08 20 Q4 09 20 Q1 09 20... 12 2.9 1,098 2 - - 2.9 $20,000 Guangzhou Securities Co Ltd 13 2.7 1,023 1 34 0.8 1.9 $10,000 Standard Chartered PLC 14 2.6 1,000 1 7 4.4 (1.8) Allen & Co Inc 15 2.4 925 1 - - 2.4 China Renaissance Partners 15 2.4 925 1 50 0.1 2.3 TD Securities Inc 17 1.8 673 1 - - 1.8 Barclays Capital Group 18 1.3 509 2 63 0.0 1.3 Banco Espirito Santo de Investimento SA 18 1.3 509 1 - - 1.3 18 1.3 - - 1,000 $60,000... AmInvestment Bank Bhd 8 2.5 238 1 - - 2.5 BNP Paribas SA 8 2.5 238 1 - - 2.5 Anglo Chinese Corporate Finance 10 2.3 221 1 - - 2.3 Rothschild 10 2.3 221 1 - - 2.3 Kingston Securities 12 2.2 214 2 6 3.8 (1.6) Quam Securities Co Ltd 13 2.1 200 4 23 0.7 1.4 Nomura Holdings Inc 14 1.8 174 1 42 0.0 1.8 Deloitte Touche Tohmatsu 15 1.7 165 1 42 0.0 1.7 Huntington Asia Ltd 16 1.5 139 2 - - Macquarie Group Ltd 17 1.0... (1.8) 320 2 24 0.3 1.4 $20,000 1.7 319 1 14 3.5 (1.8) $10,000 13 1.7 319 1 18 1.2 0.5 G5 Evercore 15 1.6 302 2 - - 1.6 Banco Pine SA 16 1.5 297 1 - - 1.5 Vinci Partners Investimentos Ltda 17 0.5 104 3 27 0.2 0.3 Patria Investimentos SA 18 0.1 10 1 - - 0.1 Deloitte Touche Tohmatsu 19 0.0 0 1 - - - 19 0.0 8 11.5 JP Morgan TOTAL 0 1 $19,359 147 160 120 $30,000 80 40 0 20 08 20 Q2 08 20 Q3 08 20 Q4 09 20 . EgliteEMEA hcho18 @bloomberg. net+8 2-2 -3 70 4-1 827 +8 2-2 -3 70 2-1 627Hyejin ChoAsia Pacific LATAM fsimon5 @bloomberg. net+5 5-1 1-3 04 8-4 669 +5 5-1 1-3 04 8-4 619Fernando Simon The Bloomberg M&A Advisory League. Disclaimer Bloomberg 2012 1st Qtr Email Fax Phone Contact + 1-2 1 2-6 1 7-3 692 mtrindade1 @bloomberg. net+ 1-9 1 7-3 6 9-3 965Mariana TrindadeNorth America leglite @bloomberg. net+4 4-2 0-7 39 2-6 672 +4 4-2 0-7 07 3-3 891Liga. $5 $10 $15 $20 $25 $30 REITS-Diversified Bldg-Residential/Commer Medical-Biomedical Transport-Services Oil Comp - E&P Metal-Diversified Medical-Drugs Oil Comp - E&P Investment Companies Private