Billion-dollar deals recently emerging from the Philippines’ largest corporations elevated the Manila branch of Dutch financial giant ING Group to the top spot of the Mergers & Acquisitions (M&A) league table tracked by Euromoney. ING Bank, N.V. (Manila) cornered five big-ticket deals and grabbed 37.6% market share in the M&A market, earning it the “Best M&A House” award for the Philippine market at the 20th Euromoney Awards for Excellence 2011 in Hong Kong on July 14.

In giving the recognition, Euromoney said: “ING did outperform its US rival in M&A and deserves recognition. The bank was clearly the leading advisor in the country during this year’s awards period.” The awards body cited ING’s work on the US$2.3-billion acquisition of PLDT, the country’s biggest telecoms company, of third-biggest Digitel. “While the deal is yet to close as regulators ponder approvals, ING’s work in bringing two rivals to the table demonstrates its reputation in the country,” it said.

It also cited ING’s advisory work on San Miguel corporation’s acquisition of a majority stake in the US$1.5-billion Metro Rail project. This “stands out as a deal advising a top-tier Philippines client in the new public-private initiative that is slated to tackle the country’s debilitating infrastructure problems,” Euromoney added.

“Being recognized for these blockbuster M&A deals helps draw attention to the exciting developments happening in the Philippine market. As top Philippine companies look for more acquisition and expansion opportunities and eagerly await the bidding for the priority projects of the government under the Public-Private Partnership Program, we expect more M&A deals in the coming months and years, especially in sectors such as media, telecom, infrastructure, power, and services,” said Consuelo Garcia, ING Bank’s Country Manager in Manila.

This is the second award received by ING Bank Manila for its M&A deals. Earlier this year, it was also named the Philippines’ “Best M&A House” in the 2010 The Asset Triple A Awards, which recognizes excellence in financial advisory, a business where ING has had a strong franchise for more than 20 years now. The Asset is a multi-media publishing and research company that caters to leading corporate and financial decision makers in Asia.

ING Bank has been the leading M&A advisor in the Philippines since the late 1990s, in both total transaction value and volume. Since 1999, the volume of debt and M&A deals executed by ING Bank in Manila topped US$13 billion, involving high-profile transactions. Instead of focusing on a single client group or sector, ING’s deal roster showcased its multi-sector expertise and deep client relationships, said The Asset. ING serves as M&A adviser to various clients in five sectors, including power, media, consumer goods, energy and financial institutions. ING also leveraged on its advisory role by offering a full range of products and services.

“The market will continue to attract more investor interest because of having world-class companies that offer great shareholder value,” Ms. Garcia added.

The Euromoney award was presented in Hong Kong where Asia’s best in banking gathers each year. Now in its 20th consecutive year, the Euromoney awards set the standard for banking and capital market excellence among the top-ranking financial institutions around the world.