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Chinese M&A activity recedes in first half
By Feng Jianmin |
August 14, 2012, Tuesday
|
Online Edition
Online Edition
MERGER and acquisition activity by Chinese companies languished in the first half due to economic hard times, and Chinese firms' outbound M&A activity remained flat to take advantage of favorable buying opportunities.
The number of China M&A deals, including inbound, outbound, intra-China, and private equity deals, fell 33 percent in the first six months, the first drop since 2009, PricewaterhouseCoopers said in a report today.
The number of inbound deals, including Hong Kong, Macau and Taiwan, tumbled 42 percent, outbound deals from the mainland slipped 6 percent, and private equity deals were down 39 percent, the report said.
The value of inbound M&A deals nearly halved to US$4.1 billion in the first half while outbound value more than tripled to US$23.9 billion.
"Foreign companies' appetite for M&A ebbed as weak economy especially in Europe has weighed on their performances and put pressure on their liquidity," said Roger Liu, PwC's partner of transaction services. "Investors are also waiting for Chinese asset prices to decline on the uncertain domestic economic outlook."
Liu said the momentum of China's outbound M&A deals will remain strong, powered by demands for resources, energy and advanced industrial technologies.
He said the M&A activity may rebound within this year if the world economy stabilizes.
The number of China M&A deals, including inbound, outbound, intra-China, and private equity deals, fell 33 percent in the first six months, the first drop since 2009, PricewaterhouseCoopers said in a report today.
The number of inbound deals, including Hong Kong, Macau and Taiwan, tumbled 42 percent, outbound deals from the mainland slipped 6 percent, and private equity deals were down 39 percent, the report said.
The value of inbound M&A deals nearly halved to US$4.1 billion in the first half while outbound value more than tripled to US$23.9 billion.
"Foreign companies' appetite for M&A ebbed as weak economy especially in Europe has weighed on their performances and put pressure on their liquidity," said Roger Liu, PwC's partner of transaction services. "Investors are also waiting for Chinese asset prices to decline on the uncertain domestic economic outlook."
Liu said the momentum of China's outbound M&A deals will remain strong, powered by demands for resources, energy and advanced industrial technologies.
He said the M&A activity may rebound within this year if the world economy stabilizes.
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