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M&A transaction value jumps in April
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TWO large transactions drove China’s mergers and acquisitions activity last month as deal value increased more than sixfold in April from a year earlier, according to an industry report.
China completed 141 such transactions last month, the Zero2IPO Research Center said in a report released today.
The value of 130 deals in which transaction figures were revealed totaled US$16 billion, a monthly increase of 72.7 percent. The total value represented a 534 percent surge from a year earlier, the report said.
“China’s M&A market remained sluggish last month with a decreasing number of deals. The transaction value was boosted by two mega deals involving BOE Technology Group Co and PetroChina Co Ltd,” Shen Lingkun, analyst with Zero2IPO, said in the report.
BOE Technology, a Beijing-based provider of display technologies, products and solutions, raised 45.7 billion yuan (US$7.4 billion) through a private placement. PetroChina last month acquired a 40 percent stake in the Dover oil sands project for 1.3 billion Canadian dollars (US$1.2 billion) from its partner Athabasca Oil Corp.
The value of the two deals accounted for 54 percent of last month's total transaction value.
Of the deals, 119 were domestic M&As valued at US$13.5 billion; eight cases were overseas acquisitions worth US$1.8 billion and three cases were acquisitions by foreign capital at US$715 million.
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