Close Brothers Corporate Finance, London, has been named the top European corporate finance adviser in the leisure sector by deal value, for the first nine months of 2004, according to MergerMarket.

The third quarter Deal Drivers review placed Close Brothers Corporate Finance top
of the pan-European leisure sector with five deals worth a total of Euro 4.4 billion.
HSBC was second with Euro 3.2 billion worth of deals and Goldman Sachs third
with Euro 2.4 billion.  

The five deals Close Brothers Corporate Finance advised on in the leisure sector in the first nine months of 2004 were: Phoenix Equity Partners' sale of Tootsies Holdings to Urban Dining; the acquisition of the outstanding shares and junior term debt in Queens Moat Houses; the sale of Clubhaus to Legal & General Ventures; the sale of Yates Group to GI Partners; and advising Enterprise Inns on the financing for its acquisition of the Unique Pub Company.

Alka Bali, Director of Leisure, Retail and Consumer Goods at Close Brothers Corporate Finance said:

"M&A activity in the leisure sector remains strong and we anticipate it could even increase over the next six to twelve months. The influence of private equity and the liquidity of the debt markets will continue to drive M&A volumes, as will other developments such as the changes to UK gaming regulation."