KPMG Corporate Finance's German business has capitalised on the stability of mergers and acquisitions activity in the utilities sector by advising on three deals at the end of December 2001.

M&A activity in the utilities sector has remained relatively healthy this year, unlike most other sectors in the European market. While many of the so-called 'mega deals' have been done already - such as Veba and Viag merging to create E.ON - advisers say that there is great potential for small and medium-sized deals in Germany in 2002.