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Buy out deal activity and values fall sharply in H1 2008 15 September 2008 The value of private equity completions in Ireland in the first half of 2008 was €73.5 million, down 73% from €277 million in the first half of 2007, according to the latest figures from the Centre for Management Buy-out Research (CMBOR), the pre-eminent provider of analysis on the Irish & UK markets founded by Barclays Private Equity and Deloitte. 

The significant drop in activity during the first half of the year resulted in an average deal value of €14.7 million. This is the lowest deal value since 1997 when the average deal value for the full year was €8.6 million.

Key facts include:

• The Irish market has witnessed a...

Premier League clubs’ £500m transfer spending beats the crunch 02 September 2008 Player transfer spending by Premier League clubs was around £500m in the summer transfer window, a new record, according to analysis by the business advisory firm Deloitte.

Paul Rawnsley, Director of the Sports Business Group at Deloitte, commented: “Last summer saw a record level of transfer spending that was fuelled by the new TV monies and new owners.  This trend has continued with this summer’s transfer spending £30m higher at £500m.  This level of transfer spending is far in excess of spending by other European leagues.  With the majority of their revenue streams already contractually...

Double Success for Deloitte Cork in Accountancy Exams! 29 August 2008

Deloitte Cork is delighted to announce that all trainee chartered accountants who sat the Professional 3 exam of the Institute of Chartered Accountants in Ireland have passed. In addition, Lin Lin Wang, from the north east of China, achieved ninth place in Ireland in the exam.

 

Lin Lin has lived in Cork for the last 5 years, where she studied Accounting...

2 weeks left to avail of Revenue Deposit Account Initiative 25 August 2008 With the deadline for the Revenue’s Voluntary Disclosure Initiative approaching on September 15th, individuals and companies alike have just over two weeks to disclose funds invested in Deposit Accounts which have not been declared for tax purposes. Deloitte is recommending persons with money of over €100,000 in any combination of accounts in any financial institutions, including credit unions, to assess their situation to see if they should be disclosing their details.

The Voluntary Disclosure Initiative, announced by the Revenue in June of this year, covers funds invested in Deposit Accounts which have not been declared...

Over 300 CEOs expected at the 20th Irish CeoForum as the business environment toughens 04 August 2008 Record attendance is expected at this year’s CeoForum as company leaders seek to learn from each other and identify those attributes that will enable them to gain advantage in a more challenging business environment. 

Commenting on the launch of the forum, Pat Cullen, Managing Partner of Deloitte said, “This year’s forum will tackle the challenges that Irish CEOs are facing as tougher economic conditions make it more difficult to achieve profitable growth. It is critical for CEOs in Ireland to take stock and identify the best way of navigating these challenges – by providing the opportunity to discuss these...

EirGrid Appoints Deloitte-led Consortium to East-West Interconnector Project 28 July 2008 EirGrid Plc has appointed a consortium led by business advisory firm Deloitte to provide it with financial and legal services on the East-West Interconnector Project.

The Deloitte-led consortium, which includes law firm Arthur Cox, will coordinate the design and execution of a funding competition to secure finance for the Interconnector, as well as providing corporate finance and legal advice. The consortium was appointed following a public tendering process.

John Fitzgerald, East-West Interconnector Project Director with EirGrid, said: “We are pleased to have a consortium with the expertise of Deloitte and Arthur Cox on...

75% of CFOs seek greater role in management strategy in changing economy – Deloitte 14 July 2008 Three out of four Chief Financial Officers (CFOs) will place a greater emphasis on strategic business issues over the next 18 months, pointing to a redefining of their traditional role, according to the Deloitte 2008 CFO Survey.  The need for good internal control, effective financial governance and efficient finance operations, which have received significant focus in recent years, must be balanced with proactive involvement in business strategy.

A total of 63% said they would place more emphasis on being a ‘catalyst’ within their business over the next 18 months, indicating that CFOs see their role as evolving from...

Wealth managers losing client trust 02 July 2008 A report on the European wealth management industry published by Deloitte, the business advisory firm, has highlighted a growing disconnect between high net worth individuals and the wealth management industry. This perceived ‘trust deficit’ is restricting the industry’s potential growth and profitability.

The report ‘Reconnecting for profit’ was based on an in depth study of the European wealth management industry. The research shows that the industry will struggle to sustain margins due to a number of factors including a decline in asset prices, escalating costs, operational limitations, increased competition (from insurance...

Technology Companies Called to Light the Way! 23 June 2008 Deloitte, the business advisory firm, is today calling on Ireland’s indigenous technology companies to apply for the 2008 Technology Fast 50 Awards. The awards are an independent, objective ranking of the top 50 fastest growing technology companies throughout Ireland.

Now in its ninth year, the awards showcase technology companies that have achieved high revenue growth over a five-year period. In addition, the Rising Star category will honour two up and coming companies who are in business less than 5 years.

The winners will be announced at the Fast 50 Awards ceremony which is taking place on October 16th in the Guinness...

Four New Partners at Deloitte 17 June 2008 Deloitte has today announced the appointment of four new partners – Michael Flynn, Christian MacManus, Honor Moore and Mike Sheehan. Michael and Christian become Corporate Finance and Audit Partners respectively in the Dublin office. Honor and Mike become Audit and Tax Partners respectively within the regional practice.

Pat Cullen, Managing Partner commented: “I am delighted to welcome our four new partners into the partnership. At Deloitte, we are committed to recognising the excellence of our people and these appointments reflect the quality and strength of the firm on a national basis. We wish them every success in their...

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