China sees July surge in M&A deals
Print Edition
China completed 102 merger & acquisition transactions in July, a surge of 59.4 percent from a month earlier, according to an industry report.
The value of the 86 M&A deals that revealed their transaction figures totaled US$3.05 billion, a monthly increase of 13 percent, the Zero2IPO Research Center said in a report released yesterday.
The total value represented a 38.4-percent rise from a year earlier, the report said.
Of all the deals, 89.2 percent, or 91 cases, were domestic M&As valued at US$1.8 billion; eight cases were overseas acquisitions at US$935 million, and three were foreign acquisitions at US$356 million.
Measured by value, the financial sector topped with cases worth US$959 million, accounting for 31.5 percent of the value of total deals, thanks to CITIC Securities Co’s purchase of Credit Agricole SA’s CLSA unit. CITIC Securities is China’s largest broker.
Energy and mining sector had the largest number of mergers at 14, followed by machine manufacturing and biotechnology & healthcare that were tied for second with 11.
Firms backed by venture capital of private equity completed 55 of the deals, the report said.
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