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Market Opportunity

Driving forces include:

No capital overhang and limited competition in German mid-caps (25-30 competitors and ca. 125 deals p.a.)
Reasonable valuation levels with the economy bottoming out
Limited debt financing capability due to new legislation (Basel II)
Increasing consolidation in various sectors
Business opportunities resulting from the evolution of the European market place
Corporate divestitures due to focus on core business
Financial buyers gaining acceptance