China’s M&As surge to record high
Print Edition
CHINA’S merger and acquisition activity surged to a record high by deal value and volume in the first half of the year, PricewaterhouseCoopers said yesterday.
The international auditing firm attributed the achievement to a robust stock market, industry consolidation and reform of state-owned enterprises.
The value of M&A deals jumped 57 percent in the first six months of 2015 to US$352 billion — the best half year on record — from the second half of last year, while there were 4,559 deals, up 10 percent from the second half of 2014.
“The hottest sectors for domestic and foreign inbound deals have been technology, financial services and real estate,” said Roger Liu, PwC Chinese mainland and Hong Kong deals private equity leader.
“There are a number of drivers behind this. The Chinese government is looking to technology and innovation to transform its economy. Real estate developers have been in need of fresh capital. And financial services have had to adapt to meet the growing needs of local retail and small and medium-sized enterprise markets.”
A buoyant stock market in the first half of the year helped fuel the boom in private equity-backed M&A deals, whose value surged 63 percent to a record US$62.4 billion.
China outbound M&As also soared as they were driven by privately owned enterprises looking overseas, according to PwC.
The number of outbound M&A deals rose 17 percent to a record of 174 in the first six months, with the total value surging 24 percent from the previous six months to US$27.2 billion.
Privately owned enterprises led the increase as the number of deals jumped 50 percent and their value soared 148 percent.
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