China’s M&As recover to record US$260b in 2013
Print Edition
The value of mergers and acquisitions in China hit a record last year after recovering from a five-year low, driven by a surge of activities in the second half, a report said yesterday.
The value of total M&A deals, including domestic, inbound and outbound, reached US$260 billion last year, up 28 percent from the figure in 2012 which was a five-year low.
There were 4,448 M&A deals last year, with 59 percent in the second half, PricewaterhouseCoopers said.
“Strong M&A activity shows a return of market confidence, and we expect these strong growth trends to continue into the first half of 2014,” said Roger Liu, a PwC partner.
Domestic M&A deals powered the market recovery last year as the total value amounted to US$148.1 billion, up from US$89.6 billion in 2012.
More M&A activities are expected across resources and industrial sectors because of the stepped-up efforts to reform state-owned companies, PwC said in the report.
“The key drivers to fuel M&A growth will include further liberalization of markets, state-owned enterprise reforms, government support for outbound activities, and recovering equity capital markets,” Liu said.
Outbound M&As slowed to US$51.5 billion from a record US$66.4 billion in 2012 when CNOOC made a US$15 billion acquisition. There was a record 119 deals in the second half of last year.
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