[Raymond Teo]

Hi Guys,

Wonder if you have come across any deal that merge with a company that operates in emerging market?
I believe the DD process would take longer than other deals.
Share your thoughts.

[Damien]

well, in my experience in the financial services industry in West and Central Africa deals do not have a longer due diligence phase:
1. Cash is scarce resource, so buyer is careful about the due diligence costs
2. The buyer does not want to invest too much before the signing given that the states usually have pre-emption right and that once announced a deal can never happen as the States decide to preempt

[Jukka Teikari]

It depends of course on the market, but there usually are several areas which are different such as cultural differences, local regulations and controls, etc. Insight might also be available from local external advisers and DD providers.

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