Over the past year, deal terms have adapted to market changes including the risk appetite of parties, valuations, the availability of credit and general market confidence. The terms and processes trends we have seen have generally reflected the somewhat challenging prevailing market conditions, which on the whole could be considered to be a little more favourable to buyers and investors, with the picture improving in favour of sellers and companies slightly as the year progressed and market confidence grew.

Overall, deal terms have become more sophisticated and tailored, reflecting the need for flexibility and risk management in a complex market.