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Upturn in year-end mergers and acquisitions in offshores


Law firm Appleby, which has an office in Douglas, has issued a report which shows a healthy boom in merger and acquisition activity in major offshore financial centres in the last quarter of 2013.




Its latest Offshore-I report says in the three month period, the Isle of Man witnessed 28 deals with a value of around £900 million, including the sale of minority stakes in oil production business Exillon Energy.



Those transactions represent a 97% increase in deals targeting the Isle of Man during the previous quarter.



Year on year, 2013 quarter 4 activity in the Isle of Man was up a massive 698% on 2012.



The firm says the figures reflect the trend seen across offshore centres around the world.”




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